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| President Park Geun-hye, left, shakes hands with Italian Prime Minister Enrico Letta at St. Petersburg's Constantine Palace, before holding a bilateral meeting on the sidelines of the G20 summit held in St. Petersburg, Russia, Thursday. / Yonhap |
By Kim Tae-gyu
ST. PETERSBURG, Russia — President Park Geun-hye invited Italian companies to establish facilities in the inter-Korean industrial zone in the North's border town of Gaeseong during a summit with Italian Prime Minister Enrico Letta held Thursday on the sidelines of the G20 Summit.
Operations at the Gaeseong Industrial Complex (GIC) were suspended this April for the first time since its launch in 2004 amid the rising tension on the Korean Peninsula, but the two Koreas are in talks after agreeing to reopen it.
Seoul is trying to globalize the area, which currently accommodates only South Korean companies, to make it difficult for Pyongyang to unilaterally shutter it.
"Although we suffered a crisis of almost closing the GIC, we agreed to reopen it and globalize it so that many things are guaranteed there at the international level," she said in her first meeting with a European leader.
"It might not be easy for now but I ask Italian firms to show an interest and take part."
While praising Italy's technological edge and national brand power, Park suggested the two countries' joint efforts to advance into other markets so that they could also take advantage of Korea's knowhow in manufacturing and sales.
"We plan to hold a business forum on the creative economy in Milan next year. I hope that Korea and Italy will be able to find a practical business opportunity and establish a new partnership," Park said.
The creative economy is one of Park's major goals to achieve over her five-year tenure — she hopes to chalk up new momentum for economic growths by boosting venture start-ups and encouraging convergence between IT and other realms.
Letta said that he will positively review the request.
"In businesses that involve creativity such as designs, Italian corporations are ready to cooperate," said Letta who inaugurated in this April.
"Some 13 years ago, I visited shipyards in Korea as industry minister. The experience reassured me that the two countries have a big potential in business alliance."
The 47-year-old Prime Minister, who has a Ph.D. in international law, added that his country will proactively partake in the 2013 World Cyberspace Conference that will take place in Seoul next month. He also asked Park to visit Italy in the near future.
In return, Park promised to help Italy prepare for and host the Asia-Europe Meeting (ASEM) next year and the Milano Expo 2015.
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