€1B Film Industry Partnership
France and South Korea Pledge €1 Billion to Support Global Screen Industries
Anonymous
Key Points
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South Korean President Lee Jae Myung cited the country’s international success with productions such as “Squid Game” and the Oscar-winning “Parasite,” saying South Korea would lead in creating content that resonates with humanity and transcends borders and languages.
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The partnership is intended to support South Korea’s domestic film and audiovisual sector as well as joint investment and co-productions between South Korea and France, according to Lee.
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France’s Bpifrance has supported cultural and creative industries since 2020 and, alongside France’s CNC, has accelerated nearly 150 companies through its French Touch program—an existing platform relevant to administering the new French contribution.
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The one-day Lumière Summit brought together more than 200 prominent cinema figures, including Netflix co-CEO Ted Sarandos, NBCUniversal Chair Donna Langley, CAA chief Bryan Lourd and actor George Clooney.
France and South Korea announced a combined €1 billion investment in global film and audiovisual industries at the Lumière Summit in Saint-Paul-de-Vence. Yahoo News reported that the two countries will each contribute €500 million from 2027 through 2031 to fund research, creative innovation, and co-productions aimed at helping content reach international audiences.
French President Emmanuel Macron and South Korean President Lee Jae Myung launched the Lumière Partnership to promote cultural diversity and copyright protection. Northeast Times noted that the initiative remains open to other countries and institutions, marking a major push to support screen industries competing on the global stage.
South Korea's Blockbuster Success Drives Investment
South Korean President Lee credited the country's global hits like "Squid Game" and Oscar-winning "Parasite" as proof of their storytelling power. Lee said South Korea aims to lead in creating content that "resonates with humanity and transcends borders and languages." The partnership will support both South Korea's domestic sector and joint co-productions with France.
France's Bpifrance to Administer €500M Fund
France's state investment bank Bpifrance will manage the country's €500 million contribution. Yahoo News reported that Bpifrance has supported cultural and creative industries since 2020, working alongside France's CNC film authority. The bank has already accelerated nearly 150 companies through its French Touch program—experience that positions it to lead the Lumière Partnership's administration.
Lumière Summit Draws Hollywood and Streaming Giants
The one-day summit in southern France drew over 200 cinema leaders. Netflix co-CEO Ted Sarandos, NBCUniversal Chair Donna Langley, CAA chief Bryan Lourd, and actor George Clooney attended the announcement. The gathering underscored how major studios and streamers view international investment in screen content as critical to competing for global audiences.
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