South Korean President Lee Jae Myung announced on Friday that South Korea and Italy are ideally positioned as partners for robust business cooperation, emphasizing their potential to jointly construct a “new industrial order.” His remarks were made during his opening address at a significant business roundtable held in Rome, specifically convened to explore avenues for deepening economic collaboration between the two nations.
This declaration follows a productive summit with Italian President Sergio Mattarella, where both leaders agreed to elevate bilateral relations to a special strategic partnership. Discussions focused on expanding cooperation across vital sectors, including semiconductors, artificial intelligence (AI), and other strategic technological domains.
President Lee highlighted the synergistic strengths of both countries: “With Italy excelling as a powerhouse in basic science, complemented by its creative engineering and design capabilities, and South Korea standing as a leader in advanced manufacturing with innovative technological prowess, our two nations are truly optimal partners.”
In response to a rapidly evolving global economy, characterized by intensifying technological competition and the dynamic restructuring of global supply chains, President Lee underscored that concerted efforts could enable South Korea and Italy to establish a resilient new industrial order and foster a cutting-edge innovative ecosystem.
“I am confident that by leveraging our mutually beneficial relations, we can collectively navigate and overcome global economic uncertainties,” he stated.
He further elaborated on the extensive potential for economic cooperation, identifying key prospective areas such as advanced AI technologies, semiconductors, energy solutions, healthcare, cosmetics, and various consumer goods.
The high-profile event saw the participation of prominent business leaders from 30 companies across both countries. Notable attendees from South Korea included 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.
Italian industry leaders present included Giorgio Marsiaj, Vice President of the General Confederation of Italian Industry (Confindustria), and Benedetto Vigna, CEO of the renowned luxury carmaker Ferrari.
These participating business executives engaged in strategic discussions aimed at strengthening collaboration in critical sectors, including advanced industries, sustainable energy, vital infrastructure projects, and other future-oriented economic areas.
During a press interaction prior to the roundtable, Samsung Chairman Lee Jae-yong, when asked about growing international interest in South Korea’s manufacturing capabilities, remarked, “We should be working harder.”
In a related discussion regarding his connection with John Elkann, Chairman of Ferrari, Lee confirmed that Samsung currently supplies advanced displays to the luxury automaker. Furthermore, Stellantis, where Elkann also serves as chairman, is actively developing a joint battery manufacturing facility in collaboration with Samsung SDI.
