S. Korea, Spain sign social security agreement

SEOUL, July 14 (Yonhap) -- South Korea and Spain on Thursday signed an agreement that will allow South Korean workers in the European nation to pay pension contributions only to their country.
   The agreement was signed between South Korean Foreign Minister Kim Sung-hwan and his Spanish counterpart Trinidad Jimenez, who is in Seoul on a two-day visit, the foreign ministry said in a statement.


  
   Under the agreement, South Korean workers in Spain will no longer be required to make social security contributions to Madrid if they make the contributions to Seoul.
   Kim and Jimenez also discussed ways to deepen practical cooperation in renewable energy, aerospace, defense and cultural exchanges, ministry officials said.
   Expectations of rising trade between South Korea and the European Union (EU) are high after a landmark free trade agreement between the two sides took effect this month.
   South Korea and Spain established diplomatic relations in 1950. Two-way trade between the countries totaled some US$2.8 billion last year, according to ministry data.
(END)