The Eurasia Initiative: a corridor network for enhancing relations between the Republic of Korea and Italy

In recent years, the dialogues between Asian and European countries through such channels as the Asia-Europe Meeting (ASEM) and various bilateral meetings have placed increasing importance on enhancing interconnectivity among the two continents and improving inter-regional networks with a view to realizing all the potentials that could result from much higher level of exchanges and cooperation. Covering over 60 countries, 60% of the world’s population, 75% of energy resources and 30% of GDP, countries in Asia and Europe are showing greater interest in bringing the two continents ever more closely so that a single market, unparalleled in size and diversity in the world if it could be created, may serve as one of the main engines for regional and global growth. By recalling the ancient Silk Road, this vision aims to overcome the geographical distances among the two continents thorough evercloser economic cooperation and people-to-people exchanges as well as renovating multi-modal transportation infrastructure and cyber highways. Such endeavors would not only allow more efficient flow of assets and goods but also help achieve higher economic growth and facilitate closer ties among countries. In 2013, South Korea launched the “Eurasia Initiative”, a policy proposal for enhancing and expanding trans-regional corridor of transportation, logistics, energy, and the so-called “Creative Economy” in order to encourage diverse regional actors to work together for securing peace and common prosperity. The “One Belt One Road” initiative is another related policy proposal from China with the similar goals. This report focuses on Seoul’s vision, its feasibility and the possible effects that this initiative could have on bilateral relations between the Republic of Korea (South Korea) and Italy.