France and South Korea have announced a €1 billion joint investment initiative aimed at strengthening the global audiovisual industry and supporting companies working across film, television and other creative sectors. The five-year initiative, named the “Lumière Partnership,” was unveiled at the Lumière Summit in Saint-Paul-de-Vence, France.
French President Emmanuel Macron and South Korean President Lee Jae Myung jointly presented the initiative, with each country committing €500 million over the next five years. France’s contribution will be managed through Bpifrance, the country’s state investment bank, while South Korea will provide a matching investment.
What Is the Lumière Partnership?
The Lumière Partnership is designed to provide public financing to audiovisual companies with international growth ambitions. Its first financing instruments are expected to be introduced between 2027 and 2031, with the initiative also remaining open to other countries that wish to participate.
The Lumière Partnership funding will support areas including research and development, creative innovation, equity investments and co-financing structures. The partners also intend to use the public investment to attract additional private capital and help companies strengthen their position in international markets.
France has already expanded its support for the creative industries through Bpifrance and the Centre national du cinéma et de l’image animée (CNC). Since 2020, the institutions have worked through the French Touch programme to accelerate the growth of French creative companies.
Why Are France and South Korea Investing in Audiovisual Content?
The new partnership comes at a time when the global screen industry is facing significant changes, from declining cinema attendance to the rapid development of artificial intelligence and increasing competition from international streaming platforms.
Macron called for greater international cooperation to ensure that technological developments do not come at the expense of creators and intellectual property. Copyright protection and cultural diversity were among the key issues discussed during the summit.
The initiative will also support independent cinemas. France announced plans for a new international organisation bringing together independent exhibitors to protect diversity within cinema markets.
How Strong Is France’s International Production Sector?
The partnership also builds on France’s growing role as a production destination for international projects. According to figures presented at the summit, international productions have committed €628.5 million in spending in France since January 2026.
Fiction accounted for €379.9 million of that investment, while animation represented €207.1 million and visual effects €41.5 million. Total international production spending in France is expected to approach €1 billion by the end of 2026, roughly twice the level recorded the previous year.
Tax incentives and the government’s “Grande Fabrique de l’Image” investment programme have contributed to the country’s growing appeal for international productions.
What Was Discussed at the Lumière Summit?
The Lumière Summit brought together around 300 participants from more than 60 countries, including policymakers, producers, studios and executives from the wider creative industries.
Beyond the €1 billion commitment, discussions focused on the future of cinema and television, international investment, technological change, copyright and the preservation of cultural diversity. The France-South Korea agreement positions both countries as partners in developing new financing and collaboration models for the global screen industry.
