President Lee: "Korea and France to Each Invest 800 Billion Won in Film and Video Industry Over Five Years"

President Lee Attends the 'Lumière Summit' in France on the 7th
Korea Proposed, France Accepted the Partnership
"A Stepping Stone for Local Content to Enter the Global Stage"

President Lee Jae-myung announced on the 7th (local time) that South Korea would partner with France to invest a total of 1.6 trillion won in the film and video industry.

In his opening speech at the Lumière Summit, an international film and video summit held in Saint-Paul-de-Vence, southern France, President Lee stated, "Today, I am here to announce the launch of a global investment and cooperation initiative for the prosperity and mutual growth of the film and video industry." The initiative, named the 'Lumière Partnership,' will see South Korea and France each invest 500 million euros (approximately 800 billion won), constituting a total investment of 1.6 trillion won over the next five years.

President Lee Jae-myung delivers the opening speech at the Lumière Summit, an international film and video summit held at the Mag Foundation in Saint-Paul-de-Vence, southern France, on the 7th (local time). This summit is co-chaired by South Korea and France. September 7, 2026. Photo by Yonhap News.

The initiative is designed for participating countries to initially support local content companies through independent funds, and later expand into co-productions and other forms of collaboration. South Korea and France plan to build a 'leading model' and gradually expand it globally, including both government and private sector participation. Kang Yoo-jung, Chief Presidential Spokesperson, explained, "By boldly increasing investments in the domestic film and video industry, we will reinvigorate the creative ecosystem and create opportunities for K-content to diversify its presence overseas."

President Lee emphasized, "This partnership, proposed by South Korea and embraced by France, will support investments to vitalize each country's film and video sectors and lead to joint investment and co-production between the two nations, serving as a strong foundation for local content to enter the global stage." He added, "I hope this partnership will go beyond bilateral relations and expand worldwide, becoming a beacon that shines a new future for the global film and video industries."

Addressing summit participants, President Lee remarked, "The film and video industry, as a comprehensive art form that balances artistry and commercial viability, has been at the forefront of bringing art closer to the public," and assessed, "At the national level, it is an important resource for shaping a country's image and strengthening soft power." He praised films like "Parasite," "Burning," and "K-Pop Demon Hunters" for elevating Korea's profile and promoting its culture globally.

Regarding the changes in the media landscape after COVID-19 and the spread of artificial intelligence (AI) technologies, President Lee said, "If we respond proactively, these changes present clear opportunities." He stressed, "It is time for industry leaders who have driven innovation in cultural industries—especially film and video—to come together and turn these changes into opportunities rather than crises."

President Lee Jae-myung and French President Emmanuel Macron are moving to the venue at the Saint-Paul-de-Vence Mag Foundation, where the international film and video summit 'Lumière Summit' is being held on the 7th (local time). 2026.9.7 Yonhap News Agency

To address these challenges, President Lee proposed producing and distributing more high-quality films to draw audiences back to theaters and emphasized the need for AI technology to be used with a human-centered approach in the creative process. He also underscored the importance of national support for the revival and diversity of independent films, as well as cooperation between local communities and global OTT platforms for mutual growth.

President Lee concluded, "Every change brings both crisis and opportunity. If we create more innovative and creative content, we will move toward greater prosperity. Furthermore, if we establish a healthy ecosystem of coexistence and mutual growth, the future of the film and video industries will become even brighter." He also said, "With more than 200 leaders from over 50 countries gathered here today, I hope the Lumière Summit will become a true 'light (Lumière)' illuminating the path forward for the film and video industries, delivering a sense of unity and inspiration to all."

The Lumière Summit is an international event attracting participants from more than 30 nations to discuss the future of film and video. The summit brought together roughly 200 top executives from the film, broadcasting, video, and gaming industries, along with policymakers, political leaders, and cultural figures. President Lee attended as co-chair alongside President Emmanuel Macron.

This content was produced with the assistance of AI translation services.