Meloni meets Italian companies in Korea: 'Italy attracts, room to grow'

An exchange of views on the business scenario, but above all on growth margins. Giorgia Meloni met today in Seoul with a representation of the approximately 120 Italian companies operating in Korea, with a total turnover of 3.2 billion euros. The message sent by the Prime Minister, who tomorrow (Sunday night in Italy) will see the Korean president Lee Jae-myung, is encouraging: the country - fourth trading partner in Asia but first in terms of per capita for our exports - is among the high-potential states included by the government in the Export Action Plan. Among the most attractive sectors are luxury, fashion and cosmetics.

An invitation to seize opportunities, that of the premier, and a promise of support. Among the companies present, as announced today in Il Sole 24 Ore on newsstands, Intercos, world leader in the production of cosmetics and make-up (turnover of over one billion); Danieli, which is a leader in the production of steel plants (it holds over 90% of the world market in the long products sector); Tod's, the luxury goods company (it also owns the Hogan, Fay and Roger Vivier brands) controlled by the Della Valle family; Marposs, a global company operating in quality control and precision measurement solutions for industrial processes. Also present at the meeting was an Italian 'lent' to a Korean electronics giant: Marco Porcini, president and chief design officer of Samsung Electronics since last April.

On 5 September in Seoul, a Business Forum was held with 180 Italian and Korean companies dedicated to four strategic sectors: artificial intelligence; circular economy and energy transition; pharmaceutical and medical; aerospace, automotive, and sustainable mobility. Since 2012, also thanks to the EU-Korea Free Trade Agreement, bilateral trade between Korea and Italy has grown by 56%, with a value of EUR 11.4 billion in 2024. Although in the first eight months of 2025, the interchange was 7.3 billion against 7.6 billion in the same period of the previous year. In other words: it can be improved. Especially considering that Korea is an industrial power that does not stop growing: GDP is estimated to be around EUR 1,799 billion this year.

Last spring's event," Palazzo Chigi emphasised, "testified to the mutual interest and broad prospects for bilateral economic cooperation. Which will be relaunched in the summit between Meloni and Lee Jae-myung at the Blue House, the presidential palace: as already pointed out, this is the first visit by an Italian premier in 19 years. The last one was Romano Prodi. The two leaders will take stock of mutual political, economic, industrial and cultural relations and will witness the signing of a series of understandings. Among them, an agreement to strengthen industrial cooperation in the field of semiconductors (an area in which Korea excels, thanks to giants such as Samsung and SK Hynix, flanked by companies such as MagnaChip Semiconductor, Simmtech and Seoul Semiconductor). Agreements on civil protection and cultural heritage protection are also on the agenda.

The face-to-face meeting will also be politically important. Lee has just re-established diplomatic relations with China, which is interested in further integrating their respective economies also in an anti-US and anti-Japan context. But Seoul's relations with the Rising Sun remain strong, as proved by the very recent drum duet playing K-pop songs performed by Lee and Japanese PM Sanae Takaichi at the end of official talks. Premier with whom Meloni has just signed a joint statement full of references to Chinese trade aggression. One can bet that the tone in Seoul will be different.