Deputy Minister Park Jeongseong Meets Italian Undersecretary... Discusses Summit Follow-up and Cooperation in Cutting-edge Industries
Exploring Joint Entry into Semiconductor, AI, and Critical Mineral Supply Chains
Request to Resolve Uncertainties for Korean Companies over the Tax Credit Scheme
The Ministry of Trade, Industry and Energy announced that on the 11th, Trade Negotiations Deputy Minister Park Jeongseong held a bilateral meeting at the Seoul Government Complex with Maria Tripodi, Undersecretary of State at the Italian Ministry of Foreign Affairs and International Cooperation, and discussed follow-up measures to link the outcomes of the Korea-Italy summit to concrete cooperation projects.
The two sides agreed on the need to build a sustainable business platform to strengthen cooperation in the private sector and to expand mutual market entry opportunities by improving the investment environment for companies. In particular, they exchanged views on specific cooperation measures in cutting-edge industries such as semiconductors and artificial intelligence (AI), including identifying joint projects and setting implementation timelines.
Cooperation on critical mineral supply chains was also a key agenda item. The two countries shared the view that they should explore ways to jointly enter third countries such as those in Africa with the aim of strengthening supply chain resilience, and agreed to operate a standing communication channel to regularly review the implementation status of follow-up measures to the summit. Through this, they plan to further solidify their strategic partnership in the industrial and trade sectors.
Deputy Minister Park stated, "Regarding the new tax credit scheme recently introduced by Italy, the Italian government has expressed its intention to review the matter so that friendly nations, including Korea, are not excluded," adding, "I hope this issue will be resolved as soon as possible."
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He also requested active cooperation from the Italian side so that uncertainties surrounding Korean companies' entry into the Italian market can be resolved and cooperation on future industries, which was emphasized at the summit, can lead to tangible results.
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