President Lee: "Korea and France will cooperate to secure safe shipping routes in the Strait of Hormuz" [Korea–France Summit]

[The Financial News] President Lee Jae Myung held a summit with French President Emmanuel Macron, who is paying a state visit to Korea, and agreed to upgrade bilateral relations to a "Global Strategic Partnership." On the occasion of the summit, President Lee and Macron revised three agreements and signed 11 memorandums of understanding (MOUs). Korea and France agreed to strengthen cooperation across a wide range of fields, including artificial intelligence (AI), the semiconductor industry, critical minerals, nuclear power, offshore wind power generation, space, the defense industry, and cultural cooperation. They also discussed current issues related to the situation in the Middle East, and the two countries agreed to work together to secure safe maritime transport routes in the Strait of Hormuz.
After the summit at Cheong Wa Dae, President Lee said in a joint press statement, "We also confirmed our determination to cooperate in securing safe maritime transport routes in the Strait of Hormuz."
President Lee particularly stressed, "President Macron and I agreed to share policy experience and strategies in order to jointly respond to the economic and energy crises triggered by the war in the Middle East, and to work together to reduce uncertainty in the global economy."
During the summit, the two leaders also discussed issues surrounding the war in the Middle East. President Lee said, "The recent war in the Middle East is shaking the international order. Civilian casualties are spreading, and the impact on the global economy and the energy sector is also growing by the day," adding, "Through today’s talks, I hope we can pool our wisdom to swiftly restore peace in the Middle East and stabilize the global energy supply chain, and explore joint cooperation measures to respond to this crisis." Macron responded, "I believe countries that are concerned about the current unpredictable situation can work together. We can further strengthen our relationship strategically, including in the field of defense," and went on, "In the Middle East situation, we can play a role in stabilizing this situation. Including in the Strait of Hormuz, we must ensure that various bombings and acts of violence can be brought under control."

Through this summit, the two countries signed a total of 14 documents. President Lee said, "We agreed to strengthen economic cooperation between our two countries and further expand trade and investment. Although bilateral trade reached a record high of 15 billion dollars last year, we will work together to achieve 20 billion dollars by 2030," adding, "I highly value the fact that France’s Air Liquide made an investment of about 3.5 billion dollars in Korea last year."
He continued, "I hope that the number of employees at companies investing in each other’s countries, currently around 40,000, will grow to 80,000 over the next 10 years," and added, "The letters of intent for cooperation in AI, the semiconductor and quantum fields signed today, as well as the ministerial-level Joint Committee on Science and Technology held today, will serve as an important springboard for creating new growth engines in future industries."
President Lee said, "The MOU between Korea Hydro & Nuclear Power (KHNP) and the French companies Orano and Framatome will not only help ensure a stable supply of fuel for our nuclear power plants, but also lay the groundwork for jointly entering the global nuclear power market," adding, "The MOU signed between KHNP and Électricité de France (EDF) will greatly contribute to the growth of the offshore wind power generation industry, and the letter of intent on cooperation in the critical minerals supply chain has created a foundation for the stable development of the critical minerals industry."
He went on, "We will further expand mutually complementary cooperation in future security fields such as space and the defense industry, and we agreed to strengthen cultural cooperation, which is at the heart of our friendly relations, and to work toward opening an era of one million people-to-people exchanges between our two countries," adding, "Through the revised protocol to the Korea–France cultural technology cooperation agreement, we expect to further expand cooperation in new areas such as e-sports, and through the revised working holiday agreement and the air services agreement, which is in its final stages of revision, exchanges among tourists, businesspeople, young people, and students of both countries will become even freer and more active." Previously, the age limit for participation in the Korea–France working holiday program was 18 to 30, but on the occasion of this summit it will be raised to 18 to 35. Based on this, the two sides plan to expand youth exchanges.



Earlier, France, which holds the presidency of the Group of Seven (G7) this year, officially invited President Lee to the G7 Leaders' Summit (G7 Summit) before the bilateral summit. During the summit, Lee responded, saying he "gratefully accepts the invitation." He added, "As the G7 chair, France is expected to exercise strong leadership in addressing economic imbalances in the international community and reforming global partnerships. The Republic of Korea will also actively contribute its wisdom."
There was also mention of peace on the Korean Peninsula. President Lee said, "The two of us fully share the view that peace on the Korean Peninsula affects peace not only in Northeast Asia and Europe, but around the world. As a permanent member of the United Nations Security Council (UNSC), France has consistently supported the Korean government’s policy on the Korean Peninsula," adding, "Macron also said that France’s support for peace and stability on the Korean Peninsula will remain unwavering."
On cultural exchange and cooperation, President Lee said, "President Macron proposed that we co-host the World Summit on Film and Visual Media Industry in September in our country. I am deeply grateful for his high regard and interest in our film and visual media industry, and for his invitation to me," adding, "I will visit France so that our two countries can work together to promote the revival of the cultural industry."

cjk@fnnews.com Choi Jong-geun Reporter