Three of Italy’s leading energy and utility companies visited Seoul to discuss supply chain cooperation with South Korean materials, components, and equipment (K-Materials) firms. The Korea Trade-Investment Promotion Agency (KOTRA) hosted the “2026 Korea-Italy International Technology Cooperation Consultation” at the Peyto Hotel in Seoul on the 8th, facilitating one-on-one technology cooperation meetings between Italian conglomerates and South Korean K-Materials companies.
The visiting companies were ENI, Italy’s largest state-owned energy company; A2A, a major public utility; and Terranova, a digital solutions provider in the energy and water resources sector. They participated at the invitation of Mind the Bridge, a venture capital firm and global open innovation advisory.
The consultation was organized as a follow-up to the agreement on expanding advanced industry cooperation reached at the Korea-Italy summit in June. KOTRA plans to link consultation outcomes to participation in the “Strategic Technology International Joint Technology Development Program” for advanced K-Materials, administered by South Korea’s Ministry of Trade, Industry and Energy. Companies selected for the program can receive up to 1 billion won (approximately $740,000) per year in technology development funding for up to three years.
ENI, one of the world’s seven largest oil and gas companies, is pursuing hydrogen and lithium battery development with a goal of achieving carbon neutrality by 2050. The company reportedly showed particular interest in cooperating with South Korean firms possessing relevant technologies. A2A, which operates in gas and power grids, environmental services, waste management, and the circular economy, conducted consultations centered on the technological capabilities and proven track record of K-Materials companies.
On the South Korean side, 11 companies participated, including Weeplat, a developer of AI-based water leak management systems and sensors, and TeraRicks, which holds air-cooled hydrogen fuel cell stack technology, conducting a total of 11 consultations.
Kim Tae-young, CEO of TeraRicks, said, “During the consultations, Italian buyers showed strong interest in our hydrogen fuel cell stack technology and proposed further discussions. We will use this joint technology and product development consultation as an opportunity to enhance our prospects for entering the Italian and European markets.”
Simultaneous Cooperation Discussions in the US and Japan
On the same day, KOTRA also hosted a Global Partnership consultation (GP-US) in Chicago. Twenty major US manufacturers participated, including Stellantis, GM, and CNH, a heavy equipment and agricultural machinery manufacturer, holding cooperation consultations with 61 K-Materials companies.
In Nagoya, Japan, a future mobility cooperation consultation was held at the headquarters of AISIN, Japan’s largest auto parts supplier and a Tier 1 vendor for Toyota. Following Europe, KOTRA is expanding global partnerships by simultaneously conducting consultations aimed at supply chain entry and cooperation expansion for K-Materials companies with major global corporations in the US and Japan.
Kim Kwan-mook, KOTRA Executive Vice President and Head of the Economic Security and Trade Cooperation Division, said, “The revival of manufacturing in overseas markets, AI transformation (AX), supply chain restructuring, and the trend of reducing dependence on specific countries are expanding opportunities for our K-Materials companies to enter global supply chains. We will do our utmost to identify cooperation demand from global corporations through our overseas trade offices and link them with government development funding programs to enhance K-Materials companies’ achievements in entering global supply chains.”
This consultation demonstrates that South Korean K-Materials companies are emerging as alternative cooperation partners as global corporations reduce dependence on specific countries and diversify their supply chains. In particular, the direct visit by Italian companies to South Korea is interpreted as reflecting concrete technology cooperation and joint development intentions beyond mere market exploration. KOTRA’s linkage to the international joint technology development program represents a strategic attempt to combine this demand with government support programs to convert it into actual supply chain entry outcomes.