Lee Jae Myung to co-chair French summit on cinema, announce investment initiative
President Lee Jae Myung, center left, and French President Emmanuel Macron, center right, alongside their wives, meet during an event in Nice, France, Sunday (local time). Captured from President Lee's Instagram
Korean President Lee Jae Myung was set to co-chair a global summit on the future of cinema in Saint-Paul-de-Vence, France, on Monday, and announce a large-scale investment initiative for the global cinema sector.
Lee, alongside French President Emmanuel Macron, will co-chair the Lumiere Summit, where he plans to deliver a speech outlining efforts to address a shift in the environment that is threatening the cinema sector.
The summit will bring together policymakers, politicians and artists involved in the cinema and game industries from 30 countries to discuss the future of cinema and beyond.
During the summit, Lee and Macron will jointly declare an initiative to invest a total of 500 million euros ($580.9 million) for a five-year period starting in 2027, Seoul's presidential spokesperson Kang Yu-jung said in a release.
Under the initiative, participating countries will set up funds to financially support local content companies and seek joint production projects between those countries.
Lee will also hold a meeting with Korean producers and actors invited to the summit, including film director Lee Chang-dong, followed by a roundtable with major entertainment powerhouses, including CJ ENM and Netflix, to promote cooperation between Korean and global companies.