Korea-Italy Industry, Space, Science MOU... Yoon "Foundation for Next-Generation Cooperation" (Comprehensive)

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President Yoon Suk-yeol signed a memorandum of understanding (MOU) in the fields of industry, space, and science during a summit meeting with Italian President Sergio Mattarella on the 8th. President Yoon anticipated that next-generation industrial cooperation between the two countries would be strengthened through this summit, and President Mattarella also expressed confidence in expanding cooperation between the two nations.

President Yoon stated this during a joint press announcement immediately following the Korea-Italy summit held at the Yongsan Presidential Office in the afternoon. He said, "I had an in-depth discussion with President Mattarella on ways to advance bilateral relations to a new level." President Mattarella visited Korea on a state visit from the 7th to the 9th at the invitation of President Yoon.

President Yoon Suk-yeol is shaking hands with President Sergio Mattarella after a joint press conference between Korea and Italy at the Presidential Office in Yongsan, Seoul, on the 8th.
[Photo by Yonhap News]

President Yoon first said, "I welcome the state visit of President Sergio Mattarella of Italy," adding, "Ahead of the 140th anniversary of diplomatic relations between Korea and Italy next year, I am very honored to mark the beginning of a new journey in bilateral relations together with President Mattarella." He also expressed gratitude by stating, "Italy is a grateful ally that opened the 68th Red Cross Hospital in Seoul during the Korean War and treated about 230,000 military and civilian patients."

The two countries have deepened their relationship through milestones such as establishing a 'strategic partnership' in 2018, one million Korean tourists visiting Italy in 2019, and achieving annual trade of $13.5 billion last year.

The MOU signed on the occasion of the Korea-Italy summit is expected to provide opportunities for industrial and scientific technological development and cooperation between the two countries. President Yoon explained, "Korea and Italy possess excellent manufacturing capabilities and advanced technologies, so the growth potential for trade and investment between the two countries is very high. The Korea-Italy MOU on industrial cooperation signed today will serve as a foundation to promote next-generation industrial cooperation between the two countries."

He continued, "President Mattarella and I agreed to strengthen cooperation in advanced technologies such as hydrogen and artificial intelligence, as well as in the space sector," emphasizing, "The Korea-Italy MOU on space cooperation signed today will expand the horizon of bilateral space cooperation." He also added, "The Korea Institute for Basic Science and Italy’s National Institute for Nuclear Physics have signed an MOU to expand joint research in basic science."

President Mattarella also attached great significance to the signing of the MOUs between the two countries. He said, "An industrial cooperation MOU was signed between the Ministry of Trade, Industry and Energy of the Republic of Korea and Italian companies, as well as the Made in Italy department. An MOU was also signed between the Korea Aerospace Research Institute and the Italian Space Agency, both of which are of mutual interest to the two countries," and predicted, "These MOUs are very important, and additional MOUs will be signed in the future to open the door to scientific cooperation between the two countries."

They also agreed to continue cooperation on major regional and international issues. President Yoon stated, "North Korea’s development of nuclear weapons and missiles is a serious threat to international security beyond the Korean Peninsula and a clear violation of UN Security Council resolutions," adding, "We will continue to closely cooperate to achieve North Korea’s denuclearization and improvement of human rights issues." He also mentioned supporting and standing in solidarity with the international community’s efforts to end the war in Ukraine and restore peace, saying, "President Mattarella and I confirmed that the security of the Indo-Pacific region and Europe are inseparable, and as members of this solidarity, we will further strengthen mutual cooperation."

He particularly emphasized, "Italy is a key member of the European Union and the North Atlantic Treaty Organization (NATO), and as the chair of the Group of Seven (G7) next year, it is taking the lead in addressing global issues," and stressed, "Korea, as a global pivotal state, will closely cooperate with Italy to promote peace and prosperity in the international community."

In response, President Mattarella said, "Italy understands and shares the Republic of Korea’s strong desire for peace and security on the Korean Peninsula and hopes that all resolutions adopted by the UN Security Council will be respected," adding, "President Yoon and I agreed to strongly condemn Russia’s aggression against Ukraine and support Ukraine. We believe that conditions must be created for just, inclusive, and lasting peace and that hostile acts must be absolutely ended."

President Yoon also welcomed the proclamation of 2024-2025 as the Korea-Italy Year of Mutual Cultural Exchange in celebration of the 140th anniversary of diplomatic relations next year, expressing hope that "the friendship between Korea and Italy through culture will deepen even further." He said, "Both Korea and Italy are countries that inspire people through high levels of culture and arts. I hope that cultural and artistic exchanges between the two countries will become more active and that new cultural values will be created together through today’s summit."

This content was produced with the assistance of AI translation services.