President Lee Jae-myung and Italian Prime Minister Giorgia Meloni held a summit at Cheong Wa Dae on January 19 and agreed to significantly strengthen their strategic partnership in advanced manufacturing and future core technology sectors. Through this meeting, the two nations established a concrete cooperation framework for their public institutions and private-sector companies with the signing of an "MOU on Semiconductor Cooperation" drawing the most attention.
The agreements are interpreted as demonstrating both nations' resolve to strengthen cooperation amid the global semiconductor supply chain reorganization. Korea is a memory semiconductor powerhouse, while Italy has strengths in automotive semiconductors and sensors, suggesting the possibility of complementary cooperation.
The two leaders agreed to strengthen industrial cooperation in four core areas—artificial intelligence (AI), aerospace, semiconductors, and critical raw materials—and to foster partnerships between public institutions and private enterprises.
In the critical minerals sector, an industrial cooperation MOU was signed between Korea's Ministry of Trade, Industry and Energy and Italy's Ministry of Enterprises and Made in Italy. They agreed to jointly build a flexible and reliable critical minerals supply chain within the framework of the Minerals Security Partnership (MSP), which Korea currently chairs.
This is understood as strategic cooperation to secure stable supplies of critical minerals such as lithium, cobalt, and nickel, which are essential for electric vehicle batteries and advanced manufacturing.
To enhance the effectiveness of their cooperation, both nations agreed to prepare a "2026-2030 Action Plan." This implementation plan specifies major cooperative projects the two nations will pursue over the next five years and is expected to serve as a blueprint for upgrading bilateral relations.
The two nations also agreed to strengthen "strategic dialogue" as a key platform for discussing major regional and global issues, and to promptly hold a follow-up meeting.
Agreements to cooperate in science and technology were also notable. Based on their 2007 science and technology cooperation agreement, the two nations have already launched eight joint research projects in forward-looking fields, including physics and quantum science, advanced materials and nanotechnology, environmental science and energy transition, AI for cultural heritage integration, advanced biotechnology, and aerospace.
President Lee was reported to have said "by combining each nation's strengths, we can create new opportunities in the global market" and to have suggested "expanding win-win cooperation particularly through joint entry into third-country markets" during the meeting.
Cultural exchanges will be strengthened alongside economic and technological cooperation. The two leaders agreed to pursue new film, museum, performing art, architecture, and tourism partnerships, taking advantage of the "2024-2025 Korea-Italy Year of Mutual Cultural Exchange."
They specifically signed an MOU to strengthen cooperation in the fields of cultural heritage and landscaping, and agreed to deepen cooperation between their audiovisual industries. Korean K-content and Italian traditional culture and arts are expected to create new synergies.
The business community is evaluating this summit positively. One semiconductor industry official said, "Both Korea and Italy are manufacturing powerhouses with a structure enabling complementary cooperation," adding, "Cooperation with Italy is particularly important as a bridgehead for entering the European market."
Regarding foreign policy, "the reaffirmation of willingness to strengthen cooperation in the Indo-Pacific region is also noteworthy," added one expert, analyzing it as "a signal that Korea and Italy will cooperate closely in global supply chain stabilization and economic security." (translated by AI, edited by David Kendall)
