Fran Morancho López, left, mayor of Mont-roig del Camp in Spain, and Lotte Energy Materials CEO Kim Yeon-seop pose for a photo during an agreement signing ceremony held in southern Seoul on Wednesday. [LOTTE ENERGY MATERIALS] Lotte Energy Materials signed a memorandum of understanding with the Spanish city of Mont-roig del Camp and Catalonia Trade & Investment, or Accio, for its 560-billion-won ($424 million) project to build a battery component plant in the European country. The latest agreement aims to speed up the project's administrative process for licensing and approvals.

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