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France and South Korea have announced a major collaborative investment aimed at bolstering the international screen industry. At the Lumière Summit held in Saint-Paul-de-Vence, both nations committed €500 million each, bringing the total joint investment to €1 billion ($1.16 billion). The initiative, known as the Lumière Partnership, will begin deploying its funding instruments between 2027 and 2031, with provisions for additional countries to participate in the future.
The partnership will support screen industry companies through multiple financial mechanisms, including equity investments designed to help businesses expand beyond their home markets, funding for research and creative development, and co-financing arrangements that distribute risk among public and private investors. All investments will adhere to principles emphasizing human creativity, copyright protection, and cultural diversity. France’s contribution will be managed through Bpifrance, the country’s national investment bank for cultural industries, while Korea will provide its matching commitment through parallel structures.
The announcement comes as France experiences significant growth in international production activity. Since the start of 2026, international productions have committed approximately €628.5 million to projects in France, spanning fiction, animation, and visual effects work. Industry observers expect this figure to nearly double to approximately €1 billion by year-end, reflecting the success of France’s enhanced tax incentives and infrastructure expansion initiatives. The summit, co-chaired by French President Emmanuel Macron and Korean President Lee Jae-myung, brought together 300 participants from over 60 countries.
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Originally reported by Variety →
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