(2nd LD) Lee says S. Korea, Italy are ‘optimal partners’ for business cooperation

(ATTN: ADDS more details in last 2 paras)

ROME, June 12 (Yonhap) — President Lee Jae Myung said Friday that South Korea and Italy are optimal partners for business cooperation and that the countries could build a “new industrial order” by working together.

Lee made the remarks in his opening remarks at a business roundtable in Rome, held to explore ways to enhance economic cooperation between South Korea and Italy.

During his summit with Italian President Sergio Mattarella a day earlier, the two leaders agreed to elevate bilateral ties to a special strategic partnership and explore ways to expand cooperation in semiconductors, artificial intelligence (AI) and other strategic areas.

“With Italy being a powerhouse in basic science with creative engineering and design capabilities, while South Korea is a powerhouse in advanced manufacturing with innovative technological capabilities, the two countries are optimal partners,” Lee said.

Amid a rapidly changing global economy driven by deepening technological competition and restructuring supply chains, the two countries could establish a new industrial order and create an innovative ecosystem if they work together, the president noted.

“I hope we will overcome global economic uncertainties together based on our mutually beneficial relations,” he said.

The two countries have significant potential for economic cooperation, he also said, citing AI, semiconductors, energy, healthcare, cosmetics and other consumer goods as prospective areas for cooperation.

Business leaders from 30 companies from both countries attended the event, including Ryu Jin, chairman of the Federation of Korean Industries; Samsung Electronics Chairman Lee Jae-yong; Hyosung Group Chairman Cho Hyun-joon; Hyundai Motor Co. President Sung Kim; and Naver CEO Choi Soo-yeon.

Italian participants included Giorgio Marsiaj, vice president of the General Confederation of Italian Industry, or Confindustria, and Benedetto Vigna, CEO of luxury carmaker Ferrari.

Participating business leaders discussed ways to enhance cooperation in strategic areas, such as advanced industries, energy, infrastructure and future-oriented sectors.

During a press availability ahead of the event, Samsung Chairman Lee said, “We should be working harder,” when asked whether he could feel growing overseas interest in South Korea’s manufacturing capabilities.

Asked about his relationship with John Elkann, chairman of Ferrari, Lee said Samsung supplies displays to the carmaker, while Stellantis, where Elkann serves as chairman, is also building a joint battery factory with Samsung SDI.

pbr@yna.co.kr
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