By Guest Writer • 17 November 2022 • 13:11
A less than informal meeting with Samsung
Credit: Pedro Sánchez Twitter
This follows a meeting held in Madrid on August 31 as Sánchez wants help to grow the new tech industry in Spain whilst Samsung has not only the technology but looks to receive a sizeable chunk of the European Recovery Funds allocated to technology.
After visiting the factory in Pyeongtaek with Minister for Industry and Tourism, Reyes Maroto, he held a meeting with Samsung executives before getting ready for another meeting the following day, this time with the CEO of the company, Lee Jae-Yong.
During the meeting, Sánchez highlighted the Government’s “ambitious strategy” to turn Spain into a relevant player in the semiconductor value chain through: a wide range of incentives and aid, attractive financing mechanisms, an ecosystem in rapid growth, and the ability to attract talent and highly qualified personnel.
He dangled the carrot that that Spain is going to allocate €12 billion which includes €9 billion of public money for manufacturing facilities and reminded his hosts that some large companies such as Cisco have already announced their investment plans in Spain, with new chip design centres.
Later during his first day in South Korea he paid a visit to the facilities of the future Cervantes Institute in Seoul, which is intended to facilitate closer links between the two countries and closed the 14th meeting of the Spain-Korea Tribune, an event organised by Casa Asia and the Korea Foundation.
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