Korea and France have joined forces to shape the future of the film and video industry. On September 7, during the Lumiere Summit held in France, the two countries announced the launch of the 'Lumiere Partnership,' committing to invest a total of 1.6 trillion won (approximately 1.6 billion euros) in the film and video sector over five years, from 2027 to 2031. Each country will contribute 500 million euros annually, with plans to first invest in their own industries before expanding cooperation through joint investments and productions.
This partnership comes at a critical juncture for Korea's film and video industry. Following the COVID-19 pandemic, theater attendance has declined, and global OTT platforms like Netflix have become central to content distribution. Additionally, generative artificial intelligence (AI) is transforming production methods, making it challenging for domestic production environments despite the global prominence of K-content.
The key to success lies not just in the 800 billion won investment but in how and where it is utilized. Funding should not be limited to supporting production costs and increasing the number of projects. It is essential to ensure that capital flows throughout the industry, from planning and development to production, distribution, and international expansion, creating a structure where creators and production companies can share in the results. A critical factor will be whether domestic production companies can secure and nurture their intellectual property (IP), which is a core asset of content.
Joint productions with France should be evaluated with the same criteria. Korea boasts production capabilities that attract global attention, while France has a robust film industry foundation and connections to the European market. The collaboration between the two countries should extend beyond sharing production costs to include the expansion of Korean content into Europe and the enhancement of investment and distribution networks. This could also help alleviate the over-reliance of K-content on specific global platforms for international expansion.
Government cooperation should not end with one-time events or a few joint production successes. It is crucial to eliminate systems and practices that hinder joint production and to create pathways for continuous interaction between production companies and creators from both countries. A collaborative network that extends beyond investment and production to include distribution and exhibition is also necessary, as connecting with audiences is as important as creating works. If Korean content can establish a foothold in the European market through France, and French content can enter the Asian market through Korea, this partnership could present new opportunities for both nations. The five-year period should be used to lay the groundwork for these long-term benefits rather than seeking short-term results.
Support for independent and artistic films, as well as emerging creators, should not be overlooked. In challenging market conditions, capital tends to gravitate toward projects with higher box office potential. Policy investments provide opportunities for challenges and experiments that the market may hesitate to undertake. This is essential for nurturing the next generations of filmmakers like Bong Joon-ho and Park Chan-wook.
Establishing principles suitable for the AI era is also urgent. While it is impossible to prevent the use of AI, issues surrounding actors' likeness and voice rights, copyright, training data, and fair compensation for creators must not be neglected. Korea and France need to take the lead in creating standards that balance technological innovation with creator protection.
K-content has already proven its competitiveness in the global market. It is now time to transform the success of a few works into the strength of the entire industry. In five years, the measure of success should not be how much of the 800 billion won was spent, but rather how many creators and production companies have grown, how much IP has been secured, and how many new markets have been opened. For the Lumiere Partnership to live up to its name, the execution from this point forward must demonstrate these outcomes.
* This article has been translated by AI.
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