Seoul: President Lee Jae Myung announced following a meeting with French President Emmanuel Macron that South Korea and France will collaborate to ensure safe passage through the Strait of Hormuz and address the broader effects of the ongoing Middle East conflict. The leaders discussed enhancing economic ties and security coordination during their summit.
According to Yonhap News Agency, President Lee emphasized the shared commitment to tackling the economic and energy crises sparked by the Middle East war. The agreement involves sharing policy experiences and strategies to mitigate global economic uncertainties. Both leaders confirmed their dedication to bolstering energy security by expanding cooperation in nuclear and offshore wind power sectors, alongside securing maritime transport routes through the Strait of Hormuz.
President Macron highlighted the importance of joint efforts to reopen the Strait of Hormuz and reduce Middle East tensions on an international scale. The leaders also set an ambitious target to increase bilateral trade to $20 billion annually by 2030, up from $15 billion last year, through enhanced trade and investment.
To facilitate cross-sector cooperation, South Korea and France signed multiple memorandums of understanding (MOUs) and other agreements. These include commitments to collaborate in advanced technologies and future industries like artificial intelligence, semiconductors, and quantum technology, as well as establishing a ministerial-level joint committee on science and technology.
In addition, a letter of intent was signed to cooperate on critical mineral supply chains, merging South Korea's manufacturing prowess with France's processing expertise. Korea Hydro and Nuclear Power signed MOUs with French nuclear firms Orano and Framatome, and with EDF for developing an offshore wind power plant in Yeonggwang, South Korea.
President Lee expressed optimism that these agreements would stabilize raw material supplies for South Korea's nuclear sector and facilitate joint entry into the global market. He also outlined plans for cooperation in space and defense, and enhancing cultural collaborations following an MOU between the countries' cultural heritage agencies.
During discussions, President Lee shared Seoul's efforts to resume dialogue with Pyongyang and promote peace on the Korean Peninsula, with President Macron reaffirming France's support for regional stability. Both leaders agreed on the broader implications of Korean Peninsula peace and committed to deepening international cooperation.
President Lee accepted Macron's invitation to the Group of Seven summit in Evian, France, marking his potential second consecutive G7 appearance. The summit also saw the decision to elevate bilateral ties to a "global strategic partnership," building on 140 years of diplomatic relations.
President Macron echoed the sentiment, expressing hope to expand cooperation in areas such as artificial intelligence, quantum technology, semiconductors, space, and culture under the new partnership. He reiterated the importance of security cooperation and stabilizing the Middle East, including safe passage through the Strait of Hormuz.
Macron's visit, his first to South Korea since assuming office in 2017 and the first by a French president in 11 years, coincides with the 140th anniversary of diplomatic ties established with the Treaty of Friendship, Commerce, and Navigation between France and the Joseon Dynasty.
Following the summit, President Lee hosted a state luncheon for President Macron, attended by prominent business leaders, including Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Chair Euisun Chung, alongside K-pop artists. President Lee acknowledged France as "an old friend and partner," recalling its support during the Korean War and expressed hope for further advancing bilateral relations in light of Macron's visit.