Korea Federation of Employers and Confindustria co-host roundtable

Ferrari, Thales Alenia Space, Fincantieri join Samsung, LS, Hyosung, Naver

Industry leaders from both countries gather for talks

Korea Federation of Employers Chairman Ryu Jin delivers opening remarks at the Korea-Italy Business Roundtable held at the Westin Excelsior Hotel in Rome on Friday. Some 30 business leaders and 40 officials from both countries attended the event, sharing cooperation cases and discussing ways to expand practical collaboration across three areas: strategic and advanced industries, energy and infrastructure, and future growth industries. From left: Foreign Affairs Minister Cho Hyun, Samsung Electronics Chairman Lee Jae-yong, Minister of Trade, Industry and Energy Kim Jung-kwan, and Korea Federation of Employers Chairman Ryu Jin. [Korea Federation of Employers]
Korea Federation of Employers Chairman Ryu Jin delivers opening remarks at the Korea-Italy Business Roundtable held at the Westin Excelsior Hotel in Rome on Friday. Some 30 business leaders and 40 officials from both countries attended the event, sharing cooperation cases and discussing ways to expand practical collaboration across three areas: strategic and advanced industries, energy and infrastructure, and future growth industries. From left: Foreign Affairs Minister Cho Hyun, Samsung Electronics Chairman Lee Jae-yong, Minister of Trade, Industry and Energy Kim Jung-kwan, and Korea Federation of Employers Chairman Ryu Jin. [Korea Federation of Employers]

The Korea Federation of Employers co-hosted the Korea-Italy Business Roundtable with Italy's Confindustria at the Westin Excelsior Hotel in Rome on Friday.

The event, held on the sidelines of President Lee Jae Myung's state visit to Italy, brought together 42 government and business representatives from both countries to discuss ways to expand cooperation in advanced industries, energy and biotech.

The two sides explored broadening collaboration in future growth sectors including AI, semiconductors, aerospace and energy infrastructure, and looked at avenues for joint research and development and entry into global markets. Attention focused particularly on the potential for synergies between Italy, a manufacturing powerhouse, and South Korea, with its advanced production capabilities.

The meeting extended to the private sector the economic cooperation agenda discussed when Italian Prime Minister Giorgia Meloni visited South Korea in January.

South Korea's delegation included Samsung Electronics Chairman Lee Jae-yong, LS Group Chairman Koo Ja-eun, Hyosung Group Chairman Cho Hyun-joon, Naver CEO Choi Su-yeon, Hyundai Motor Co. President Sung Kim, LG Chem President Kim Dong-chun and Korea Aerospace Industries President Kim Jong-chul.

The Italian side was represented by Deputy Prime Minister and Foreign Minister Antonio Tajani, along with senior executives from major companies including Fincantieri, Thales Alenia Space Italy, Sparkle, Enilive, Ferrari and Kiko Milano.

In his keynote address, Korea Federation of Employers Chairman Ryu Jin said Italy, a nation of foundational technologies, and South Korea, with its advanced manufacturing capabilities, are "partners with great complementarity." He added that economic cooperation is entering a new phase following two summit exchanges this year and the elevation of bilateral ties to a special strategic partnership. He called on both sides to expand cooperation across advanced industries including AI, renewable energy and aerospace.

Giorgio Marsiaj, vice chairman of Confindustria, highlighted common ground between South Korea's entrepreneurial spirit and Italy's family business culture, and proposed that the two countries' business communities work together to build a long-term vision for advanced industrial development.

The roundtable was divided into three sessions: strategic and advanced industries; energy and infrastructure; and future growth industries. In the strategic and advanced industries session, Samsung Electronics, Hyundai Motor, Naver and Korea Aerospace Industries discussed cooperation in semiconductors, AI and defense. Korea Aerospace Industries shared plans to jointly develop satellite technology and enter the global satellite market through its partnership with Thales Alenia Space Italy, and said it is also pursuing technology cooperation to localize key components of the Surion helicopter.

The energy and infrastructure session focused on cooperation in response to Europe's green energy transition and demand for power grid modernization. LS said it would leverage its experience winning grid contracts from Italian state transmission company Terna to strengthen its push into the European energy market, anchored by a local research and development hub. HD Construction Equipment said recent regulatory improvements by the Italian government had created a better environment for Korean construction equipment in Italy, and expressed its intent to expand smart construction equipment supply.

The biotech and lifestyle session featured examples of production base development and technology cooperation. Biotech startup Curverse shared its $360 million technology export deal with Italian pharmaceutical company Angelini Pharma and outlined possibilities for expanded drug development collaboration. Cosmax said it would build on its acquisition of Italian ODM firm Cheminova to strengthen local production and drive K-beauty's expansion into the European market.

Before the event began, Samsung Electronics Chairman Lee Jae-yong spoke briefly with reporters. Asked whether he could feel growing international interest in South Korea's manufacturing technology, he said, "We need to work even harder."

On his relationship with Ferrari Chairman John Elkann, Lee said Samsung supplies displays to Ferrari, and noted that Elkann also chairs Stellantis, adding that Stellantis and Samsung SDI are jointly building a battery manufacturing plant.


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