South Korea and France strengthened their partnership during the Lumière Summit, held at the Mag Foundation in Saint-Paul-de-Vence, France.
According to the Ministry of Culture, Sports and Tourism, President Lee Jae-myung and President Emmanuel Macron co-chaired the opening ceremony of the summit on September 7, where they announced the launch of the "Lumière Partnership" for international film and video industry investment cooperation.
The Lumière Partnership aims for both countries to invest €500 million (approximately 800 billion won) each in their domestic film and video industries over the next five years. Additionally, a steering committee involving relevant agencies from both countries, including South Korea's Ministry of Culture and France's Ministry of Culture, will be established to detail cooperation in content production, investment, and distribution.
The partnership was first proposed in June when Minister Choi Hwi-young met with French Minister of Culture Rima Abdul Malak, who expressed support, leading to this agreement. In response to the significant changes in the film and video industry due to the rise of online streaming services (OTT) and advancements in artificial intelligence (AI), both countries plan to revitalize their creative ecosystems through bold policy financing investments.
During the signing ceremony, several agreements were exchanged between South Korean and international content companies. The content production company SLL collaborated with Mediawan, Europe’s largest media group, to explore joint production projects targeting the global market, focusing on the localization and remake of their intellectual property (IP) formats.
Naver and the French National Audiovisual Institute (INA) signed a strategic agreement to combine AI technology with audiovisual cultural heritage archives.
Minister Choi also met with Alessandro Juliani, Italy's Minister of Culture, at the summit to officially sign the Korea-Italy Film Co-Production Agreement. Films recognized as co-productions by both countries will be treated as domestic films, allowing them to benefit from various incentives, including film development fund incentives, tax credits, and grants, while ensuring smooth movement of production personnel and equipment.
In his closing remarks, Minister Choi stated, "The South Korean government will not spare any support in terms of policy and institutional backing to expand creative freedom as a reliable partner in international audiovisual content production."
The Lumière Summit is an international event discussing the future of film and video, addressing key issues such as the impact of AI on creation, economic models in the industry, and changes in audience behavior.
* This article has been translated by AI.
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