Samsung and Ferrari Among Korean and Italian Business Leaders Gather in One Place as President Lee Says They Are the "Ideal Partners"

[Financial News Rome, Italy = Reporter Choi Jong-geun]After holding a summit with Italian Prime Minister Giorgia Meloni on the 12th (local time), President Lee Jae Myung attended the Korea-Italy business roundtable at a hotel in Rome. The meeting discussed ways to expand economic cooperation between the two countries. More than 40 people attended, including about 30 business leaders from South Korea and Italy, such as Samsung Electronics Chairman Lee Jae-yong and Ferrari CEO Benedetto Vigna, as well as government officials and representatives from business associations and organizations.
In his opening remarks at the Korea-Italy business roundtable, President Lee said, "The intensifying competition for technological supremacy, led by the artificial intelligence (AI) revolution, and the rapidly changing international economic order, marked by supply chain realignment, are reshaping the world." He added, "As global uncertainty grows, technology, talent and supply chain networks with trusted partners will determine corporate competitiveness and, ultimately, the industrial and technological competitiveness of an entire nation."
He emphasized, "As a powerhouse in basic science with creative engineering and design capabilities, Italy, and as a leader in advanced manufacturing with technological innovation capabilities, South Korea, are truly the ideal partners."
President Lee said, "If our two countries join forces, we can create powerful synergies by jointly designing a new industrial order and innovation ecosystem." He added, "Based on our complementary partnership, I hope we can navigate global economic uncertainty together."
He noted that Italy is South Korea's fourth-largest trading partner among European Union (EU) member states, and said there is ample room to further expand trade and investment in the future, given the scale of both economies and their manufacturing capabilities.
President Lee said, "That means the potential for economic cooperation between our two countries is very large. Above all, cooperation in strategic advanced industries such as AI, semiconductors and aerospace, which form the foundation of future growth engines, is a key task." He added, "It is also an important task to build a strong supply chain together in the energy infrastructure sector to support these advanced industries."
He also explained that the strong mutual affinity between the two countries' cultures would be a major asset for cooperation.
President Lee said, "Cooperation in consumer goods such as biotechnology, healthcare, cosmetics and food also appears highly promising. I believe the future of industrial and economic development in our two countries rests in the hands of the business leaders gathered here." He added, "I hope we can share the experience and wisdom we have gained on the ground and seize new opportunities for cooperation. I am convinced that if we join hands, one plus one will be far greater than two."
 
At the roundtable, the South Korean side included KEF Chairman Ryu Jin, Samsung Electronics Chairman Lee Jae-yong, LS Group Chairman Koo Ja-eun, Hyosung Group Chairman Cho Hyun-joon, Samyang Foods Chairman Kim Jung-soo, Hyundai Motor Company President Sung Kim, LG Chem Ltd. President Kim Dong-joon, NAVER CEO Choi Soo-yeon, and HD Construction Equipment President Moon Jae-young. The Italian side included Italian Business Federation Vice Chairman Marciai, Fincantieri Chairman Mazzotta, Ferrari CEO Benedetto Vigna, Eni Chairman Petracchini, and KIKO Milano CEO Dominici.
Ryu said that the South Korea national football team had won its World Cup match earlier in the day, and remarked, "Thanks to your support early this morning, the South Korea team won its first World Cup match." He added, "So Rome has become not only a historic and beautiful city, but also a lucky city for our delegation overnight."
He then told President Lee, "I would like to express my deep respect for elevating bilateral relations to a special strategic partnership and opening a new chapter for future cooperation. Italy and South Korea are the most ideal industrial partners." He added, "The two countries already have solid supply chain cooperation, and we are also strengthening our security partnership in the defense sector. Now it is time to expand into advanced industries such as artificial intelligence, renewable energy, aviation, space and robotics."
Ryu also said that K-beauty’s recent expansion into Italy has been drawing attention.
He said, "I hope our cooperation in the lifestyle sector will also create global brand power. All roads lead to Rome." He added, "We want to open another road here in Rome. I hope this path, forged together by the business communities of both countries, will boldly extend into the future and across the global market."
cjk@fnnews.com Choi Jong-geun Reporter