Korea-Italy Business Roundtable

Cooperation to expand in AI, quantum technology and energy supply chains

Lee Jae-yong, Cho Hyun-joon among executives from 30-plus firms attending

President Lee Jae Myung speaks at a business roundtable held at a hotel in Rome, Italy, on Friday local time. [Yonhap]
President Lee Jae Myung speaks at a business roundtable held at a hotel in Rome, Italy, on Friday local time. [Yonhap]

President Lee Jae Myung, on a state visit to Italy, said Friday local time that South Korea and Italy are "truly ideal partners" — Italy as a powerhouse of basic science with creative engineering and design capabilities, and South Korea as an advanced manufacturing nation with strong technological innovation.

Speaking at the opening of the Korea-Italy Business Roundtable held that afternoon at a hotel in Rome, Lee said that as global uncertainty deepens, "networks of trusted partners in technology, talent and supply chains will determine the competitiveness of companies and, ultimately, the industrial, technological and economic strength of entire nations."

He added that the two countries should work together to navigate global economic uncertainty on the basis of their complementary relationship, and said there was "ample room" for trade and investment to grow further given the size of both economies and their manufacturing capabilities.

Italy is South Korea's fourth-largest trading partner among EU member states.

Lee also said cooperation in strategic advanced industries — AI, semiconductors and aerospace — was "a core task" as the foundation of future growth, and that building a robust shared supply chain in energy and infrastructure to support those industries was equally important.

National Security Adviser Wi Sung-lac (left), Samsung Electronics Chairman Lee Jae-yong and Policy Chief Kim Yong-beom talk at the business roundtable attended by President Lee Jae Myung at a hotel in Rome, Italy, on Friday local time. [Yonhap]
National Security Adviser Wi Sung-lac (left), Samsung Electronics Chairman Lee Jae-yong and Policy Chief Kim Yong-beom talk at the business roundtable attended by President Lee Jae Myung at a hotel in Rome, Italy, on Friday local time. [Yonhap]

Earlier that day, President Lee held summit talks with Italian Prime Minister Giorgia Meloni, during which the two sides signed a memorandum of understanding on advanced science, technology and ICT cooperation to advance collaboration in future strategic technology fields including AI and quantum technology.

Lee also said he hoped participants would "share experiences and wisdom gained on the ground and seize new opportunities for cooperation," adding that he was convinced that "when we join forces, one plus one will be far more than two."

Italian Deputy Prime Minister and Foreign Minister Antonio Tajani responded warmly, saying Italy "welcomes Korean companies with open arms at any time."

Korea Enterprises Federation Chairman Ryu Jin said the time had come for South Korea and Italy to expand into advanced industries such as AI, renewable energy, aerospace and robotics. "Just as all roads once led to Rome, I hope the path that our two business communities forge together will lead powerfully toward the future and global markets," he said.

The event, co-hosted by the Korea Enterprises Federation and its Italian counterpart Confindustria, was attended by major South Korean conglomerate heads including Samsung Electronics Chairman Lee Jae-yong, LS Group Chairman Koo Ja-eun and Hyosung Group Chairman Cho Hyun-joon.

President Lee Jae Myung poses for a photo with attendees at the business roundtable held at a hotel in Rome, Italy, on Friday local time. [Yonhap]
President Lee Jae Myung poses for a photo with attendees at the business roundtable held at a hotel in Rome, Italy, on Friday local time. [Yonhap]

Italian participants included Giorgio Marsiaj, vice president of Confindustria and chairman of aerospace firm Sabelt; Biagio Mazzotta, chairman of Fincantieri, Italy's largest shipbuilder; Giampiero Di Paolo, CEO of defense and aerospace company Thales Alenia Space Italia; Marco Petracchini, chairman of decarbonization energy firm Enilive; and Benedetto Vigna, CEO of Ferrari.

At the roundtable, business leaders from both countries shared examples of bilateral cooperation and discussed ways to expand practical collaboration across three themes: strategic and advanced industries, energy and infrastructure, and future growth industries.


sang@heraldcorp.com