Korea-Italy Business Round Table brings together executives in Rome

Samsung Electronics Chairman Lee Jae-yong speaks with attendees at a business round table joined by President Lee Jae Myung at a hotel in Rome, Italy, on Friday. [Yonhap]
Samsung Electronics Chairman Lee Jae-yong speaks with attendees at a business round table joined by President Lee Jae Myung at a hotel in Rome, Italy, on Friday. [Yonhap]

President Lee Jae Myung, on a state visit to Italy, attended the Korea-Italy Business Round Table on Friday, where he said the two countries must cooperate to achieve a new level of growth in an era of AI revolution and supply chain restructuring.

Kim Yong-beom, chief of the Cheong Wa Dae policy office, told reporters at a press briefing held that evening in Rome that participants "explored new possibilities for cooperation, particularly in advanced industries such as aerospace, AI and semiconductors, as well as future consumer goods including eco-friendly fuels."

Business leaders at the event also presented their visions for what their companies could accomplish through deeper ties with Italy.

Samsung Electronics Chairman Lee Jae-yong said that combining "Italy's strength as a science powerhouse with Korea's technological innovation would open up expanded cooperation across a range of advanced industries." He added that Italy holds a special place for Samsung, noting that events such as the Milan Furniture Fair had been "an extraordinary source of inspiration." Lee also mentioned that Samsung's head of design is Italian.

Hyosung Chairman Cho Hyun-joon said Italy and Korea share many things in common, and highlighted several existing partnerships with Italian companies in fashion, finance and other sectors. He said Hyosung would "continue to expand cooperation in areas such as eco-friendly materials and energy infrastructure, contributing to the economic development of both countries."

Hyundai Motor President Sung Kim said the two countries' partnership, which began with design collaboration on the Pony — Hyundai Motor's first independently developed model — "has grown into strategic cooperation in future mobility and electrification."

Naver President Choi Su-yeon said the company shares Italy's goal of building an independent AI ecosystem and pledged to "contribute to the development of Italy's digital ecosystem based on AI and digital platforms."

Korea Enterprises Federation Chairman Ryu Jin said it is now time for Korea and Italy to expand into advanced industries including 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 stretch boldly toward the future and global markets," he said.

Chairman Lee is well connected in Italy, particularly through his ties to Ferrari.

In 2012, Lee joined the board of Exor, the holding company of Italy's billionaire Agnelli family, serving as an outside director for about five years until 2017. Exor is also the largest shareholder of Stellantis, formed through the merger of Fiat Chrysler and PSA Group. John Elkann, born in 1976 and a maternal grandson of the Agnelli family, currently serves as CEO of Exor.

Italian participants included Giorgio Marsiaj, vice chairman of the Confindustria business federation 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 Italy; Marco Petracchini, chairman of decarbonization energy company Enilive; and Benedetto Vigna, CEO of Ferrari.


sang@heraldcorp.com