On July 20, President Oh Se-Ik of Korea Rural Economic Institute (KREI) signed a memorandum of understanding for research cooperation with Alberto Manelli, director general of Italy's National Institute of Agricultural Economics (INEA), a public research organization attached to the Italian Ministry of Agricultural Policy. Established in 1928, the institute has over 300 employees in 20 branches across the country. 

With the signing of the agreement, the two institutes are expected to actively share research results and information, exchange researchers, host joint workshops and seminars, and conduct joint research on issues of mutual concern, such as agricultural trade, climate change, green growth and regional development.