(Photo: Yonhap)

The leaders of South Korea and Spain have agreed to upgrade their countries' bilateral relationship to a "strategic partnership."

President Moon Jae-in and Spanish Prime Minister Pedro Sanchez highlighted during their summit in Madrid on Wednesday that the two sides have worked together in various fields since the establishment of diplomatic relations in 1950.

They adopted a joint statement that laid out plans to boost cooperation in a number of areas, including diplomacy, economy, science, technology, culture and sports.

Moon and Sanchez also saw eye-to-eye on the need to continue to advocate for sufficient production and equitable global access to COVID-19 vaccines, according to Cheong Wa Dae.

The South Korean president also addressed the Spanish senate and expressed hope the two countries will work together on green energy and digital technology.

Moon said the new relationship could "produce synergy."