PARIS, South Korean President Moon Jae-in sought on Tuesday to assure French entrepreneurs that ongoing peace efforts with North Korea will create a greater opportunity for their investment and business on the Korean Peninsula.

During his address to business leaders from the two countries in Paris, Moon also vowed efforts to boost bilateral economic cooperation especially in technology sectors and startup businesses.

"For nearly 130 years since the establishment of diplomatic ties between the two countries, France has been a good friend in times of need," he said.

Moon reaffirmed his agreement with President Emmanuel Macron the previous day to expand their countries' economic cooperation and bilateral trade. To this end, the leaders agreed to soon launch annual dialogue between their top economic officials.

"France is the center of European politics, economy and culture, and South Korea is a hub of Northeast Asia. They are clearly attractive markets to each other," he said.

"Should peace be established on the Korean Peninsula, South Korea will become a more attractive destination for investment," he said.

Moon has held three bilateral summits with North Korean leader Kim Jong-un this year and agreed among other things to permanently end their military confrontation in what Moon has called a de facto nonaggression pact.

"I speak with confidence that now is the best time to further develop economic cooperation between South Korea and France."

Moon emphasized the need for the two countries to expand cooperation in technology sectors and startup businesses for future growth.

"Starting innovative new businesses is the best way to revitalize the economy and provide quality jobs to young people," he said.

Source: Yonhap News Agency