France and South Korea have unveiled a joint €1 billion investment initiative aimed at strengthening the global audiovisual and entertainment industry, marking one of the largest public financing commitments announced for the sector in recent years. The agreement was revealed during the Lumière Summit in Saint-Paul-de-Vence, France, where political leaders and entertainment executives gathered to discuss the future of cinema and the screen industries.
French President Emmanuel Macron announced that the two countries will each contribute €500 million over the next five years through the newly established “Lumière Partnership,” a funding platform designed to support the audiovisual sector while reinforcing cultural sovereignty. According to officials, France’s contribution will be provided through state investment bank Bpifrance, with South Korea matching the commitment, creating a combined investment pool of €1 billion.
Speaking at the summit, co-chaired with South Korean President Lee Jae Myung, Macron said: “Together, we are committing one billion euros over five years to create what we have called the Lumiere Partnership, an initiative dedicated to supporting the audiovisual sector and cultural sovereignty.”
The initiative will deploy its first financing instruments between 2027 and 2031 and remains open to participation from additional countries. Funding will prioritize companies with the ambition and capacity to compete internationally, while supporting research, development, creative innovation, equity investments and co-financing structures intended to leverage additional private capital. France’s share will be administered by Bpifrance, which has supported the country’s cultural and creative industries since 2020 and, together with the Centre national du cinéma et de l’image animée (CNC), has already accelerated nearly 150 companies through its French Touch program.
Macron also used the summit to call for stronger international cooperation as the film industry confronts declining cinema attendance, artificial intelligence and growing competition from global streaming platforms. “Because our works also capture something about our era and who we are, and because behind every production there are creators, technicians, companies, jobs and an entire value chain, we must regain control over these major technological transformations,” he said.
Addressing artificial intelligence, the French president warned that “it would be a tremendous mistake” if the technology were to become a tool that “replaces, or claims to replace, authors, creators and voice actors.” He also called for stronger copyright protection and announced the creation of a new international organization bringing together independent cinemas with the goal of preserving diversity across exhibition markets.
The partnership aligns with broader growth in France’s production sector. Since January 2026, international productions have committed €628.5 million in spending in the country, including €379.9 million in fiction, €207.1 million in animation and €41.5 million in visual effects. Total international production expenditure is expected to approach €1 billion by the end of the year, approximately double the previous year’s level, supported by enhanced tax incentives and the government’s “Grande Fabrique de l’Image” investment program.
The Lumière Summit attracted approximately 300 participants from more than 60 countries, bringing together policymakers, producers, studios and creative industry executives to discuss the future of the global screen business and establish new frameworks for international collaboration.