South Korea and Spain agreed to elevate their ties to a "strategic partnership" during summit talks between President Moon Jae-in and Spanish Prime Minister Pedro Sanchez.

The two adopted a joint statement to that effect on Wednesday at a summit held at the prime minister's official residence in Madrid.

Under the agreement, the two nations will advance joint efforts in the fields of political and diplomatic cooperation; international and multilateral cooperation; and international peace and security.

They will also enhance cooperation in economy; science, technology and innovation; and culture, education, sports, people-to-people exchanges and tourism. 

Moon and Sanchez also agreed to work together to return bilateral trade and investment to the pre-pandemic level.

In addition, they reaffirmed their commitment to the complete denuclearization and establishment of permanent peace on the Korean Peninsula achieved through diplomacy and dialogue.

On the occasion of Moon's state visit, the two nations signed agreements and memorandums of understanding including those on customs mutual assistance and health cooperation.