ROME — The South Korea-Italy Business Roundtable, held on June 12 (local time) to mark President Lee Jae-myung’s state visit to Italy, transcended a mere diplomatic gathering. It transformed into a dynamic platform for future-oriented industrial synergy. From innovative culinary fusions of "ramen and pasta" to a robust mobility alliance anchored by a 27-year friendship between Samsung Electronics Chairman Lee Jae-yong and Ferrari Chairman John Elkann, business leaders from both nations committed to expanding bilateral economic cooperation at an unprecedented pace and scale.
According to a briefing by Kim Yong-bum, Chief of Staff for Policy at the Presidential Office, the roundtable witnessed a flurry of concrete expansion strategies and collaborative blueprints from major South Korean business leaders.
Deepening Tech and Infrastructure Ties
Samsung Electronics Chairman Lee Jae-yong emphasized the deep cultural and technological connection between his company and Italy.
"The Milan Furniture Fair has always provided incredible inspiration, and our Chief Design Officer (CDO) is from Italy, underscoring our special bond," Chairman Lee stated. "When Italy's foundational science converges with South Korea's technological innovation, it will generate powerful synergy across all advanced industry sectors."
Other business titans echoed this sentiment, detailing expansion plans across diverse sectors:
LS Group: Chairman Koo Ja-eun designated Italy as the "Mediterranean Hub" connecting Europe and North Africa, pledging to deliver tangible outcomes in power infrastructure development.
Hyosung Group: Chairman Cho Hyun-joon expressed ambitions to expand cooperation beyond traditional fashion and finance into eco-friendly advanced materials and energy infrastructure.
HD Hyundai Construction Equipment: CEO Moon Jae-young expressed gratitude for the swift resolution of administrative bottlenecks regarding Italy’s "Super-Depreciation System" (which offers tax incentives for new equipment procurement). He humorously compared the efficiency of the Italian administration to the speed of a "Ferrari."
Samyang Foods: Vice Chairwoman Kim Jung-su presented an innovative R&D roadmap aimed at fusing South Korean ramen with Italian pasta.
Leading corporations such as LG Chem, Naver, Korea Aerospace Industries (KAI), and Cosmax also reaffirmed their commitments to solidifying local partnerships.
A 27-Year Friendship Fuels Mobility Synergy
The response from the Italian business community was equally enthusiastic. John Elkann, Executive Chairman of the global luxury supercar brand Ferrari, expressed a profound affinity for South Korea. "Korea is an ever-inspiring market and feels like a home to me," Elkann said, proposing joint R&D cooperation for electrification and digital transformation, moving beyond traditional luxury vehicle sales.
The Presidential Office highlighted that Chairman Lee and Chairman Elkann have maintained a close friendship for 27 years. This bond is further rooted in history, as Chairman Lee previously served as an outside director for Exor, Ferrari’s parent company.
Additionally, heads of other major Italian corporations, including Chairman Mazotta of the shipbuilding and defense firm Fincantieri, and CEO Dominici of the global beauty brand Kiko Milano, expressed eager anticipation for active business exchanges with South Korean enterprises.
Presidential Backing and Global Outreach
After listening closely to the executives, President Lee Jae-myung emphasized the strategic importance of democratic alliances in a changing world.
"In an era of global grand transformation, solidarity between nations that share core values is more critical than ever," President Lee noted. "I call upon our business leaders to play a pivotal role so that both nations can achieve mutual growth amid the shifting global order."
Following the official event, President Lee held a separate follow-up meeting with the South Korean business delegation. He promised unyielding executive support, stating, "If there are regulatory hurdles or policy suggestions that are difficult to resolve at the individual ministry level, do not hesitate to contact the Presidential Policy Office directly."
Meanwhile, Policy Chief Kim shared additional diplomatic successes, announcing the official opening of a direct hotline between the South Korean Presidential Office and the Indian Prime Minister's Office—a follow-up measure agreed upon with Prime Minister Narendra Modi during a recent visit to India. Kim also confirmed that "Korea Business Week" will be held in India late this month.
The roundtable concluded on a warm note, as the host hotel surprised the attendees with a special commemorative cake celebrating the South Korean national football team's victory in their opening match of the 2026 FIFA World Cup.
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