France, Korea Unveil $1.16 Billion Screen Industry Partnership
The joint initiative, announced at the Lumiere Summit, will finance companies with international scale ambitions and prioritize human creativity, copyright protection, and cultural diversity, with each country contributing €500 million
France and Korea have launched a $1.16 billion screen industry financing partnership, with each country pledging €500 million, to strengthen the global screen industries and support companies with international scale ambitions.
The partnership, announced at the Lumiere Summit, is open to additional countries and will prioritize human creativity, copyright protection, and cultural diversity. The combined total of the partnership is €1 billion ($1.16 billion), with France's contribution being channeled through Bpifrance, the national public investment bank.
The partnership will finance a range of instruments, including equity stakes, dedicated funding for research and development, and co-financing structures. This will enable companies to build the financial foundations needed to grow beyond their home markets. The first funding instruments will deploy from 2027 through 2031.
The Lumiere Summit, co-chaired by President Emmanuel Macron of France and President Lee Jae-myung of the Republic of Korea, has generated significant interest in the global screen industries. International productions have committed €628.5 million ($730 million) to spending in France since January 2026, demonstrating the country's appeal as a hub for film and television production.
## Why it matters The partnership between France and Korea is significant, as it aims to promote cultural diversity and support companies with international scale ambitions. By prioritizing human creativity, copyright protection, and cultural diversity, the partnership will help to strengthen the global screen industries and provide opportunities for companies to grow and develop. The fact that the partnership remains open to further countries also highlights the potential for global collaboration and cooperation in the screen industries.
The Lumiere Summit has also led to other significant announcements, including the launch of a new international film co-production fund by Indonesia's Ministry of Culture, and a partnership between Cinépolis and Unifrance to promote French cinema in India, Indonesia, Spain, and Chile. These developments demonstrate the growing interest in global collaboration and cooperation in the screen industries, and highlight the potential for partnerships like the one between France and Korea to drive growth and development in the sector.
## What happens next The first funding instruments will deploy from 2027 through 2031, and the partnership will be open to additional countries. As the partnership develops, it is likely that we will see increased collaboration and cooperation between France, Korea, and other countries in the global screen industries. This could lead to new opportunities for companies and filmmakers, and help to promote cultural diversity and creativity in the sector.
