World OKTA (Overseas Korean Traders Association), the largest Korean diaspora business organization in Korea, gathered European businesspeople to seek strategies for entering Spain, a market of 50 million people. This year is the final year for Spain to execute a total of 163 billion euros (about 286 trillion won) in economic recovery subsidies received from the European Commission to overcome the COVID-19 crisis. As a result, there are projections of large-scale investment in sectors such as tourism, manufacturing, construction, and renewable energy.
World OKTA's Madrid chapter in Spain held a session on strategies for entering the Spanish market on the 12th (local time) at Eurostars Puerta de Madrid during the 2026 Europe-Eurasia Regional Businesspeople's Conference. Following the opening ceremony the previous day, the event moved into a full-fledged schedule to discuss business strategies.
Spain is one of the most watched countries in the eurozone lately. Its growth potential is being recognized thanks to its geographic characteristics and the steady increase in both population and tourists. Spain's population, which stood at about 36 million in the 1970s, is expected to approach 50 million this year. This is the result of a pro-immigration policy, in contrast to the anti-immigration stances of the United States and key European Union countries. The number of tourists is also projected to reach 100 million annually.
The session featured a briefing by the Embassy of the Republic of Korea in Spain on an overview and trends of the Spanish economy, and a lecture on market development strategies by Park Yuna, a luthier active in Spain as a handmade guitar maker.
Lee Dong-seon, economic secretary at the Embassy of the Republic of Korea in Spain, who took the podium first, said, "Spain is the biggest beneficiary of subsidy payments being executed by the European Commission for COVID-19 recovery," and noted, "We should pay close attention to the 'last-train demand,' with concentrated execution this year in public procurement, digital, and infrastructure projects."
Lee cited four industries that corporations in Korea could seize as opportunities: ▲ tourism ▲ manufacturing ▲ construction ▲ renewable energy. Spain hosts the third-largest number of exhibitions in the world and is the No. 2 automobile producer in Europe. It also ranks third globally in overseas construction orders.
In particular, it is a leading renewable energy country pushing a power transition centered on wind and solar. The Spanish government plans to raise the share of renewable power generation from 68.9% as of last year to 81% by 2030. Lee noted, "One cause cited locally for last year's large-scale blackout in Spain is that an adequate power grid was not established," adding, "While renewable generation is high, related infrastructure was lacking, and corporations in Korea have strengths in power systems such as transformers."
Luthier Park Yuna shared her journey from classical guitar performer to maker. She recounted her story of moving from Korea to Spain to forge a new life as a guitar maker. "My journey as a maker began when I came to Spain in 2006," she said. "I started as a student of Angel Benito Aguado and did not make my first guitar until 2014." She continued, "It was hard to make guitars, to sell them, and to be recognized by famous people, and it was also not easy as an East Asian woman," adding, "Currently, orders are backed up by about two years."
In addition, the session included a Q&A between World OKTA members who came to Madrid from around the world to attend the businesspeople's conference and the speakers. World OKTA members engaged in in-depth discussions on ways to spread Korean culture in Spain and strategies for local market entry by small and midsize enterprises and young people.