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Korea-Italy Economic Cooperation Forum Held Last Month in Italy

According to Yonhap News,

(SEOUL=Yonhap News) Korean President Park Geun-hye attended the Korea-Italy Economic Cooperation Forum, which was hosted by the Federation of Korean Industries, on October 15 at Clerici Palace in Milan. Forum participants suggested pioneering a new market by combining the industrial strengths of Korea and Italy.


"We need to combine the strengths of Italy, the accessories and clothing brands and materials industries, and Korea’s capability to develop the designs that attract Asian consumers," said Kiwon Han, the Head of Invest Korea, the investment promotion arm of KOTRA.

He also suggested cooperation in the fashion industry through the Korean Wave and strategies to enter the Asian market, including the Korea-China fashion fund.

"Korea, which strives to take a new leap forward via the “creative economy,” will become a good partner of Italy, the country that led the world into the Renaissance," said Federation Chairman Huh Chang-soo.

About 150 participants, including President Park, Minister Yoon Sang-jick of Trade, Industry & Energy and President Licia Mattioli of the Foreign Investment Committee at Confindustria discussed company advancement measures by promoting cooperation between the small- and medium-sized companies of both countries.

Inox Tech, an Italian special steel and steel pipe manufacturer that was acquired by SeAH Steel early this year, proposed the advancement of companies by combining Italy’s technology and Korea’s financial capacity and marketing strategies.

Alba, an Italian steel-cutting company, stressed integrating Italy’s design technology and Korea’s skills, quality management and swift after-service.

Korea’s specialized chip for wave communications between vehicles and infrastructures and Italy’s C-ITS platform, which converges wireless communication and security technology, were also introduced at the forum.

The Federation of Korean Industries and the Confindustria of Italy have organized the joint meeting seven times since the establishment of the Korea-Italy Economic Cooperation Committee in 1976. The recent forum was the first since the last one in 2007.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (October. 15, 2014)

** This article was translated from the Korean.
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