President Lee Jae-myung's State Visit to Italy Elevates Bilateral Relations

President Lee Jae-myung Visits Italy on State Visit, Agrees to Upgrade Relations to ‘Special Strategic Partnership’

President Lee Jae-myung made a state visit to Italy on the 11th (local time), holding a summit with Italian President Sergio Mattarella. Through this meeting, an agreement was reached to elevate bilateral relations to a ‘Special Strategic Partnership’. President Lee emphasized that based on the long-standing trust of 142 years of exchange between the two nations, the horizons of cooperation will broaden further, specifically mentioning future industry collaborations in AI, semiconductors, defense, and space. This state visit holds significant meaning as it is President Lee's first state visit to Europe since taking office, and the first by a South Korean president to Italy in 26 years. Notably, Italy bestowed the highest level of honor, the ‘Knight Grand Cross of the Order of Merit of the Italian Republic,’ one of the highest honors awarded to foreign heads of state, upon President Lee, showing the highest level of courtesy. This served as an opportunity to reaffirm the close ties and importance of cooperation between the two countries.

Strengthening Future Cooperation in AI, Semiconductors, etc.; Ushering in a ‘Special Strategic Partnership’

President Lee Jae-myung's state visit to Italy went beyond mere diplomatic protocol, focusing on building a future-oriented cooperative relationship. The AI, semiconductor, defense, and space industries discussed at the summit are key sectors expected to lead the Fourth Industrial Revolution. Synergies are anticipated by combining the technological capabilities and potential of both nations. Italy is a country with a developed manufacturing and technology industry within Europe, showing significant interest in cooperating with South Korea, particularly in high-value-added sectors. In the semiconductor field, South Korea possesses world-class technology and production capacity, while Italy is exploring cooperation possibilities leveraging its strategic position within the EU and its R&D capabilities. Furthermore, in the defense and space industries, both countries are expected to enhance their competitiveness in the international market by utilizing each other's strengths. For instance, combining Italy's aerospace industry infrastructure with South Korea's advanced technology could create new cooperation models in various fields such as satellite technology and drone development.

The elevation of bilateral relations to a ‘Special Strategic Partnership’ through this agreement specifically signals a deepening of cooperation across diplomacy, security, economy, and other multifaceted areas. This signifies solidifying their status as strategic partners for mutual security and economic prosperity, moving beyond a conventional friendly relationship. The South Korean government, through this visit, aims to strengthen relations with the European Union (EU) and secure new diplomatic space amidst China's expanding economic influence. As a major EU member, strengthening ties with Italy can serve as a stepping stone for improving relations with the entire EU. Moreover, cooperation with Italy, a country of significant geopolitical importance, can positively impact the expansion of economic cooperation with Eastern European and North African regions. For the specific cooperation measures discussed at the summit to yield concrete results, sustained efforts and the establishment of concrete action plans by both governments are necessary. In particular, when institutional support is provided to promote exchanges and investments in the private sector, the ‘Special Strategic Partnership’ is expected to bear more substantial fruit.

Diplomatic Moves Amidst Declining Approval Ratings; Public Sentiment Under Scrutiny

Meanwhile, President Lee Jae-myung's recent diplomatic endeavors are drawing attention in conjunction with a slight dip in his approval ratings. According to the National Barometer Survey (NBS), President Lee's approval rating stood at 57%, a 9 percentage point (p) drop from the previous survey. This decline is analyzed to be a result of complex factors including poor performance in the June 3 local elections and internal conflicts within the ruling party. Recent media reports also indicated a 9.4%p decrease in positive assessments of President Lee, suggesting growing concerns within the government regarding public sentiment trends. In this context, there appears to be a determination to secure external achievements and re-mobilize national momentum through active overseas tours. Specifically, diplomatic achievements from this state visit to Italy could have a positive impact on domestic politics. Receiving the highest honor from the Italian president can elevate South Korea's international standing and enhance the president's personal leadership.

However, separate from diplomatic achievements, the domestic political situation continues to present a complex landscape. The Lee Jae-myung administration faces criticism for allegedly repeating the failed real estate policies of the previous Moon Jae-in administration and must also ensure thorough investigations into pressing issues, such as the safety accident at a SPC-affiliated bakery. Furthermore, past political burdens, such as the occurrence of dissenting votes within the Democratic Party during the approval process for President Lee's arrest warrant and controversies surrounding the withdrawal of indictments, could weigh on his administration. Balancing these domestic political issues will be a crucial task for the Lee Jae-myung administration's future governance. Within the party, voices like Representative Chung Jin-suk emphasize rallying support around President Lee Jae-myung for re-election, while others point out the importance of staying true to the initial resolve and focusing on people's livelihoods, as the saying goes, 'regimes are short-lived.' Ultimately, along with diplomatic achievements abroad, the ability to regain domestic public support and secure governance momentum will determine the political fate of the Lee Jae-myung administration going forward.