Korean Businesses Seek Deeper Ties with Italy, Praising Government's Speed

High-level officials and business leaders from South Korea and Italy convened in Rome for a business roundtable, aiming to elevate their bilateral relationship to a new level amidst the AI revolution and supply chain realignments. Both sides expressed a shared understanding of the need for enhanced cooperation in strategic and advanced industries.

Discussions focused on identifying new avenues for collaboration in sectors such as aerospace, artificial intelligence, semiconductors, and eco-friendly energy and infrastructure. Future potential was also explored in promising consumer goods areas like biotechnology and beauty products. Prominent figures from Korean industry, including Lee Jae-yong of Samsung Electronics, Koo Ja-eun of LS Group, Sung Kim of Hyundai Motor, and Choi Soo-yeon of Naver, shared their perspectives on leveraging synergies between the two nations.

Lee Jae-yong highlighted Italy's significance to Samsung, citing its role as a source of inspiration through events like the Milan Furniture Fair and noting that Samsung's Chief Design Officer is Italian. He expressed confidence that collaboration between Italy, a scientific powerhouse, and Korea, a leader in technological innovation, could yield significant advancements across various high-tech fields. Gu Ja-eun emphasized LS Group's commitment to achieving tangible results in power infrastructure, capitalizing on Italy's strategic position as a Mediterranean hub connecting North Africa and Europe. Hyundai Motor's Sung Kim pointed to the evolution of bilateral cooperation from initial design collaborations, like that for the first independent model 'Pony,' to strategic partnerships in future mobility and electrification. Choi Soo-yeon of Naver pledged to contribute to Italy's digital ecosystem development, focusing on AI and digital platforms.

Moon Jae-young, CEO of HD Hyundai Construction Equipment, specifically thanked both governments for their swift resolution of issues concerning the accelerated depreciation system, which had previously been limited to EU-made goods. He lauded the Italian government's problem-solving speed, likening it to the renowned Ferrari. President Lee, concluding the business roundtable, stressed the importance of solidarity and cooperation between value-sharing nations during this transformative period, expressing anticipation for mutual growth between Korea and Italy and acknowledging the pivotal role of their business communities.