Heat the olive oil in a paella pan or wide heavy-bottomed skillet over medium heat.
Add the diced chorizo and sauté for 2 minutes until the smoky oils are released and the edges are slightly crisp.
Stir in the diced onion and red bell pepper, cooking until the vegetables are softened and translucent.
Add the minced garlic, smoked paprika, and tomato puree, stirring constantly for 1 minute to develop the flavors.
Sprinkle the Bomba rice into the pan and stir for 2 minutes to toast the grains and coat them in the aromatic base.
Stir the saffron threads into the seafood broth and pour the liquid over the rice, adding the sea salt.
Allow the mixture to come to a gentle simmer, then reduce the heat to medium-low and cook undisturbed for 10 minutes.
Arrange the shrimp and mussels on top of the rice, pressing them down slightly into the liquid.
Continue cooking for another 5 to 8 minutes until the seafood is cooked through and the liquid has been fully absorbed.
Increase the heat to medium-high for the final 60 seconds to develop the socarrat, or toasted rice crust, on the bottom of the pan.
Remove from heat, garnish with freshly chopped parsley, and serve immediately with a bright lemon wedge.