South Korea, Italy elevate ties to 'Special Strategic Partnership,' vow expanded AI, semiconductor cooperation

South Korea and Italy agreed Thursday to elevate their bilateral relationship to a "Special Strategic Partnership" and significantly expand cooperation in future industries including AI, semiconductors, aerospace, biotech and energy.

President Lee Jae Myung and Italian President Sergio Mattarella announced the upgrade in a joint press statement issued after summit talks at the Quirinal Palace in Rome on Thursday.

The move raises the two countries' ties from an existing strategic partnership to the higher special strategic partnership designation.

"Building on the trust, bonds and shared values accumulated over the years, we will open a new chapter of cooperation toward shared prosperity," Lee said.

The two sides agreed to further strengthen trade and investment cooperation and work together to create a stable business environment for their companies.

They will focus particularly on expanding corporate cooperation and identifying growth opportunities in semiconductors, AI, defense, aerospace, energy and biotech.

To that end, a South Korea-Italy Business Roundtable bringing together more than 30 companies from both countries — including Samsung Electronics Chairman Lee Jae-yong and Hyosung Chairman Cho Hyun-joon — is scheduled for Rome on Friday.

The two countries also agreed to sign a memorandum of understanding on small and medium-sized enterprise cooperation and a separate MOU on social solidarity economy cooperation, both aimed at expanding support for SMEs and small business owners.

Lee said the MOUs "will serve as an important foundation for identifying practical support measures for SMEs and small business owners, and for invigorating the social solidarity economy ecosystem in both countries."

Science and technology cooperation will also expand. The two countries are currently pursuing eight joint research projects spanning AI, advanced biotech, space, marine and aviation, and semiconductors and displays. On the sidelines of the summit, they agreed to sign an MOU on advanced science, technology and ICT cooperation to institutionalize collaboration in national strategic technology areas including AI, quantum industries, sixth-generation mobile communications and advanced biotech.

Supply chain and energy security cooperation also featured prominently on the agenda. The two leaders agreed on the need for coordination among like-minded countries amid growing supply chain uncertainty stemming from tensions in the Middle East, and committed to working closely together on energy security and supply chain stability.

The two countries will sign a South Korea-Italy development cooperation MOU to jointly support economic growth in Africa and the Indo-Pacific region, and plan to expand cooperation on renewable energy transition and climate change response. They also pledged to actively contribute to international efforts on climate change through a joint push for a transition to renewable energy.

The two sides agreed to maintain close communication on peace and stability in the region, including on the Korean Peninsula. Lee said he shared with President Mattarella "our vision for peaceful coexistence and shared growth on the Korean Peninsula."

Mattarella said he "highly values our government's commitment to dialogue and cooperation, and will work together toward peace and stability on the Korean Peninsula."

Lee added that the two countries plan to adopt a "2026-2030 South Korea-Italy Strategic Action Plan" to faithfully implement and review all the outcomes and areas of cooperation agreed upon.