Korea and France to invest 800 billion won each over five years to diversify K-content's global reach
President Lee Jae Myung will attend the "Lumière Summit," a gathering of leading figures from the global film and screen industries, as co-chair. He will jointly announce with French President Emmanuel Macron a landmark bilateral investment initiative worth a combined 1.6 trillion won ($1.18 billion) over the next five years.
Cheong Wa Dae Chief Spokesperson Kang Yu-jung said in a written briefing Monday that Lee will attend the summit in Saint-Paul-de-Vence, France, as co-chair. The event brings together some 200 participants, including culture ministers from around the world, representatives of international organizations, and film and screen industry professionals and creators.
In his opening remarks, Lee will lay out a global agenda for responding to the rapidly shifting landscape of the film and screen industries. He and Macron will then jointly announce the "Global Film and Screen Industry Investment Cooperation Initiative," under which each country will commit 500 million euros ($581 million) — about 800 billion won — to the screen industry starting in 2027, for a period of five years. The combined investment from both sides will reach approximately 1.6 trillion won.
Cheong Wa Dae said it expects the initiative to significantly boost investment in Korea's film and screen sector, inject new energy across the creative ecosystem, and lay the groundwork for diversifying K-content's presence on the global stage.
Lee will also hold a meeting with Korean filmmakers invited to the summit. Attendees will include directors Lee Chang-dong and Jeong Ju-ri, actors Seol Kyung-gu, Jeon Do-yeon and Kim Do-yeon, and Kim Min-young, Netflix's vice president of content for Asia-Pacific excluding India. Lee plans to encourage creators active on the international stage and hear firsthand about the challenges and suggestions from those working in the K-content industry.
Lee and the first lady will then join Macron, his wife and other summit participants for an official luncheon, where they plan to deliver a message about the future of global screen industry cooperation that transcends cultural boundaries.
Following the luncheon, Lee will chair a global film and screen industry roundtable. Representatives of major content companies — including CJ ENM, Naver, Netflix, the Motion Picture Association and France's Mediawan — will attend to discuss sustainable paths for mutual growth.
Lee will also hold separate meetings with key figures from major global studios and streaming platforms, including Netflix, Disney, Sony and NBCUniversal, to discuss strengthening cooperation in K-content production and the broader Korea-US screen industry partnership. He plans to express gratitude for the more than 1 trillion won that MPA member companies have invested annually in K-content, and to call for continued expansion of that investment, pledging the Korean government's full administrative and fiscal support.
sunpine@heraldcorp.com
