South Korea, Italy agree to boost cooperation in AI, chips, and critical minerals

South Korean President Lee Jae Myung and Italian Prime Minister Giorgia Meloni agreed on Monday to deepen cooperation in strategic industries such as artificial intelligence, semiconductors, aerospace, and critical minerals. During summit talks in Seoul—the first bilateral visit by an Italian prime minister to South Korea in nearly two decades—the two leaders emphasized building resilient supply chains and expanding industrial collaboration amid global economic uncertainties.

Strengthening Economic and Technological Ties

The leaders identified new areas for partnership, including transportation and infrastructure, while also highlighting cultural exchanges. Meloni noted her daughter’s interest in K-pop as a symbol of growing people-to-people ties. The summit resulted in the signing of three memoranda of understanding covering private-sector semiconductor collaboration, civilian disaster response, and cultural heritage preservation.

Broader Regional and Diplomatic Alignment

In addition to economic matters, Lee and Meloni discussed regional security, agreeing to work toward a peaceful and prosperous Indo-Pacific and reaffirming their commitment to the complete denuclearization and lasting stability of the Korean Peninsula. South Korea is Italy’s fourth-largest trading partner in Asia and its top Asian export destination on a per-capita basis. Bilateral trade has grown steadily since the South Korea-EU free trade agreement took effect in 2012, rising from $8.08 billion to $12.6 billion in 2024.

Significance of the Visit

Meloni’s trip, which included stops in Oman and Japan before South Korea, underscores Italy’s strategic pivot toward deepening partnerships in the Indo-Pacific. The visit also marks the first by a European leader since President Lee took office in June 2024, signaling a mutual interest in elevating bilateral relations amid shifting global supply chains and technological competition.