Rome: President Lee Jae Myung stated that South Korea and Italy are optimal partners for business cooperation, suggesting that the nations could create a "new industrial order" through collaboration. Lee's remarks were made during his opening statement at a business roundtable in Rome, aimed at exploring economic cooperation between the two countries.
According to Yonhap News Agency, during a summit with Italian President Sergio Mattarella the previous day, the leaders agreed to elevate their bilateral ties to a special strategic partnership. They also discussed expanding cooperation in areas such as semiconductors and artificial intelligence (AI).
President Lee emphasized Italy's strengths in basic science, creative engineering, and design, and South Korea's prowess in advanced manufacturing and innovative technology, which makes them ideal partners. He noted that amid a rapidly changing global economy, driven by technological competition and supply chain restructuring, the two countries could establish a new industrial order and an innovative ecosystem through collaboration.
Lee expressed hope that both nations would overcome global economic uncertainties together, citing AI, semiconductors, energy, healthcare, cosmetics, and consumer goods as areas with significant potential for cooperation.
The roundtable was attended by business leaders from 30 companies from both countries, including Ryu Jin, chairman of the Federation of Korean Industries; Samsung Electronics Chairman Lee Jae-yong; Hyosung Group Chairman Cho Hyun-joon; Hyundai Motor Co. President Sung Kim; and Naver CEO Choi Soo-yeon. Notable Italian participants included Giorgio Marsiaj, vice president of the General Confederation of Italian Industry, and Benedetto Vigna, CEO of Ferrari.
Business leaders discussed enhancing cooperation in strategic areas such as advanced industries, energy, infrastructure, and future-oriented sectors. Samsung Chairman Lee, during a press availability, highlighted the need for increased efforts in response to growing international interest in South Korea's manufacturing capabilities. He also mentioned Samsung's supply of displays to Ferrari and the company's joint battery factory with Stellantis, chaired by John Elkann.