Lee Jae-yong Calls Italy 'Special Country'; Ferrari Chairman Calls Korea 'Inspiring Market'

At the Korea-Italy Business Roundtable, held on the occasion of President Lee Jae-myung's state visit to Italy, leading business figures from both nations pledged to take the lead in promoting bilateral cooperation.

Kim Yong-bum, Presidential Chief of Staff for Policy, shared key remarks made by the roundtable participants during a briefing on June 12 (local time).

First, Samsung Electronics Chairman Lee Jae-yong said, "Italy is a special country for Samsung," adding, "Events like the Milan Furniture Fair have been an incredible source of inspiration, and Samsung's Chief Design Officer is also from Italy."

He continued, "If Italy, a powerhouse in science, and South Korea, an innovator in technology, join forces, we will be able to expand cooperation across various advanced industries."

LS Group Chairman Koo Ja-eun introduced recent achievements in collaboration with Italy, stating, "We will strive to produce tangible results in the power infrastructure sector with Italy, which holds great significance as a 'Mediterranean hub' connecting North Africa and Europe."

Hyosung Group Chairman Cho Hyun-joon also shared examples of cooperation in sectors such as fashion and finance, expressing his ambition to "contribute to the economic development of both countries by expanding cooperation in fields like eco-friendly materials and energy infrastructure."

Samyang Foods Chairman Kim Jung-soo mentioned joint research and development to improve the taste and quality of noodle products from both countries, such as Korean ramen and Italian pasta.

Moon Jae-young, President of HD Hyundai Construction Equipment, expressed gratitude for the swift resolution of issues regarding the hyper-depreciation system (a system that reduces corporate tax burdens by allowing companies to write off an amount higher than the actual purchase price when introducing new equipment) and likened the Italian government's speed in resolving the issue to a "Ferrari."

In addition, companies including LG Chem, Naver, Korea Aerospace Industries, Fashion Group Hyungji, Cosmax, and Cureverse expressed their commitment to expanding cooperation with Italian companies in their respective fields.

Italian business leaders also responded warmly.

Ferrari Chairman John Elkann expressed his affinity, saying, "South Korea is a market that constantly inspires us and feels like a home country." He added, "Beyond our traditional presence in luxury cars, we hope to collaborate with South Korea through joint research and development (R&D) in electrification and digitalization."

In connection with this, a Blue House official shared that Chairman Elkann and Chairman Lee have been friends for 27 years, noting that Lee had also served as an outside director for Ferrari in the past.

Besides Chairman Elkann, other Italian business leaders, including Chairman Biagio Mazzotta of defense and shipbuilding company Fincantieri and CEO Simone Dominici of cosmetics brand Kiko Milano, expressed their desire to collaborate with South Korea.


After the business leaders finished speaking, President Lee stated, "In an era of great transition like today, solidarity and cooperation among countries that share values are crucial." He added, "I hope South Korea and Italy can develop together amid the dynamically changing global order, and I look forward to business leaders playing a pivotal role in that process."

Following the event, President Lee held an impromptu "post-meeting" with South Korean business leaders to express his gratitude for their participation, according to Chief of Staff Kim.

He also requested active policy suggestions from the business leaders, urging them, "Please submit suggestions that are difficult for individual ministries to handle directly to the Presidential Office for Policy."

He also shared the news that a direct hotline between the two countries, which had been proposed by Prime Minister Narendra Modi during his previous visit to India, has been established between the Indian Prime Minister's Office and the Blue House, and that "Korea Business Week" has been confirmed to take place in India later this month.

A Blue House official also noted that the hotel hosting the event prepared a cake to celebrate South Korea's victory in its first match of the North and Central American World Cup.

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.