Seoul: President Lee Jae Myung and Italian Prime Minister Giorgia Meloni have reached an agreement to enhance industrial cooperation between South Korea and Italy in key sectors such as artificial intelligence, aerospace, semiconductors, and critical minerals. The announcement came after the two leaders held summit talks on Monday.
According to Yonhap News Agency, the joint press statement emphasized the significance of strengthening industrial ties in these sectors while fostering partnerships between public institutions and private companies. The leaders concurred on the need to develop resilient and reliable critical mineral supply chains, highlighting this as a priority in their collaborative efforts.
On the occasion of their summit, South Korea and Italy signed three memorandums of understanding (MOUs). These agreements cover private sector collaboration in the semiconductor industry, civilian protection in the field of natural disasters, and the preservation of cultural heritage and historical sites.
President Lee expressed optimism about expanding bilateral cooperation across various domains, including science, technology, and advanced industries like aerospace and defense. He noted the potential for synergy between Italy's scientific prowess and South Korea's technological leadership. Lee also emphasized the importance of cultural and people-to-people exchanges, describing them as soft power rooted in rich cultural influence, and announced plans to visit Italy reciprocally.
The two leaders committed to working towards a peaceful and prosperous Indo-Pacific region and supporting peace efforts on the Korean Peninsula, reaffirming their dedication to complete denuclearization and lasting stability in the area. They also agreed to collaborate within multilateral forums such as the Group of 20 and to enhance Seoul's partnership with the Group of Seven, of which Italy is a member.
Meloni highlighted the need for both countries to explore new cooperation areas, including semiconductors, transportation, and infrastructure. She also expressed interest in expanding cultural exchanges, particularly in the realm of pop music, noting her daughter's appreciation for K-pop.
During her three-day official visit, Meloni paid tribute to fallen veterans at the Seoul National Cemetery and received an album from South Korea's veterans ministry documenting the contributions of Italian medical personnel during the Korean War. Her visit marks the first by a European leader since President Lee assumed office last year and is part of her broader Asia trip, which includes stops in Japan and Oman.
Italy, South Korea's fourth-largest trading partner in the European Union, attracts approximately 1 million South Korean visitors annually. The two countries celebrated the 140th anniversary of diplomatic relations in 2024.