Agreements and MOUs Signed Following Summit

President Lee Sets Goal of $20 Billion Bilateral Trade by 2030

Cooperation in AI, Critical Minerals, and Nuclear Power… Amendment to Military Secret Information Protection Agreement

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On April 3, South Korea and France agreed to upgrade their bilateral relationship for the first time in 22 years, moving from a "21st Century Comprehensive Partnership" to a "Global Strategic Partnership" on the occasion of their summit meeting. In particular, President Lee Jaemyung announced that the two countries would jointly respond to the economic and energy crises caused by the Middle East war and cooperate to ensure the security of maritime transport routes in the Strait of Hormuz. In addition, through the amendment of three agreements and the signing of 11 memoranda of understanding (MOUs), South Korea laid out plans to strengthen strategic communication with France, achieve key national policy goals, and build a forward-looking partnership.


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After concluding the official welcome ceremony, signing the guestbook, holding small group and expanded meetings, and attending the treaty and MOU signing ceremony at the Blue House, President Lee delivered a joint press statement. He said, "France has been a steadfast friend standing by South Korea for 140 years since diplomatic ties were established in 1886," adding, "Based on the deep friendship and solidarity we have built, we have decided to upgrade our bilateral relationship to a 'Global Strategic Partnership.'" This marks President Macron's first visit to South Korea since taking office in 2017 and the first visit by a French president in 11 years.


Prior to the joint press statement, the two leaders signed three agreements and 11 MOUs, including the Protocol on Amendments to the Cultural Technology Cooperation Agreement, Letters of Intent for Cooperation in Artificial Intelligence, Semiconductors, and Quantum Technology, and a Letter of Intent for Cooperation on Critical Mineral Supply, as well as an MOU for cooperation between Korea Hydro & Nuclear Power and Orano. The agreements also included the amendment to the Korea-France Working Holiday Agreement, which raises the eligible age from 18-30 to 18-35, and the Military Secret Information Protection Agreement, which now reflects changes in both countries’ secrecy classification levels and allows for restrictions on access to certain military secrets by non-nationals of the two countries.


Regarding the achievements of the summit, President Lee stated that the two countries aim to expand trade and investment to reach a bilateral trade volume of 20 billion dollars by 2030. He added, "We will continue to work together to encourage mutual investment in new industries and enhance employment at investment companies," and expressed hope that the current employment figure of 40,000 at bilateral investment companies would increase to 80,000 over the next 10 years.


Korea and France Upgrade to 'Global Strategic Partnership' After 22 Years... Cooperation to Secure Hormuz Shipping Route (Comprehensive) View original image

The two countries also agreed to actively foster an environment for joint growth in advanced science and future industries and to become leaders in innovation. President Lee emphasized, "The Letters of Intent for Cooperation in Artificial Intelligence, Semiconductors, and Quantum Technology, as well as today’s Ministerial-level Joint Science and Technology Committee, will serve as important stepping stones for driving new growth in future industries."


President Lee further noted, "The MOUs between Korea Hydro & Nuclear Power, and French companies Orano and Framatome will enable us not only to secure a stable supply of materials for our nuclear power plants but also to lay the foundation for jointly entering the global nuclear market." He added, "Through the Letter of Intent for Cooperation on Critical Mineral Supply Chains, we have established a foundation for the stable development of the critical minerals industry, and we will further expand mutually complementary cooperation in future security sectors such as space and defense."


The two leaders also agreed to usher in the "era of 1 million people-to-people exchanges" through enhanced cultural cooperation. The revised Protocol on the Korea-France Cultural Technology Cooperation Agreement will allow both countries to expand cooperation into new fields such as e-sports, and the amended Working Holiday Agreement as well as the ongoing revision of the Aviation Agreement will further expand people-to-people exchanges. In addition, the two countries signed a Letter of Intent on Language Assistant Teacher Exchange to increase the number of French learners in Korea and Korean learners in France to 100,000 by 2035, and agreed to use the MOU on Cultural Heritage Cooperation, signed between the two countries’ cultural heritage agencies, as an opportunity to promote their cultural heritage globally.


President Lee mentioned the opening of "Centre Pompidou Hanwha Seoul" in Yeouido, Seoul, during President Macron's visit, saying, "It will become one of Seoul’s iconic landmarks, enriching the daily lives of our people and increasing access to French art." He added, "Based on these various achievements, our two countries will vigorously open the era of 1 million people-to-people exchanges where people and cultures move freely."


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Regarding the economic and energy crisis caused by the Middle East war, the two countries agreed to take joint action and cooperate to secure safe maritime transport routes in the Strait of Hormuz. President Lee also requested unwavering support for South Korea’s efforts to resume dialogue and cooperation between the South and the North. He said, "President Macron and I shared policy experiences and strategies to jointly address the economic and energy crises triggered by the Middle East war," adding, "We agreed to work together to resolve global economic uncertainties." He further stated, "We reaffirmed our commitment to expanding cooperation in nuclear power and offshore wind energy to strengthen energy security, as well as to collaborate on securing safe maritime transport routes in the Strait of Hormuz."



Meanwhile, President Macron formally invited President Lee to the upcoming Group of Seven (G7) Summit to be held in Evian, France, this June. In response, President Lee said, "As the chair of the G7, I expect France to demonstrate leadership in addressing global economic imbalances and reforming international partnerships. South Korea will also actively contribute its wisdom." At the subsequent state luncheon, more than 140 distinguished guests from both countries attended. Given that this year marks the 140th anniversary of diplomatic relations between Korea and France, K-pop group Stray Kids' member Felix, who serves as an honorary ambassador for France, and actress Jun Ji-hyun, both symbolic figures of cultural exchange between the two countries, were present.


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