0
President Lee Jae-myung delivers an opening speech at the Lumière Summit, an international film and audiovisual conference held at the Fondation Maeght in Saint-Paul-de-Vence, southern France, on the 7th (local time). South Korea and France serve as co-chairs for the summit. / Yonhap News

President Lee Jae-myung, on a state visit to France, announced the "Global Film and Audiovisual Industry Investment Cooperation Initiative" during his opening address at the Lumière Summit on the 7th (local time), under which South Korea and France will each invest 500 million euros (approximately 800 billion won) in the audiovisual industry over the next five years.

The plan aims to invigorate the creative ecosystem through bold investment in the domestic film and audiovisual industries while diversifying the global reach of K-content.

Announcing the measure at the summit held in Saint-Paul-de-Vence in southern France, President Lee said, "Today, I would like to announce the launch of the Global Film and Audiovisual Industry Investment Cooperation Initiative for the shared prosperity and coexistence of the film and audiovisual industries."

President Lee co-chaired the Lumière Summit alongside French President Emmanuel Macron. President Macron had invited South Korea to serve as co-chair of the international film and audiovisual conference during the bilateral summit held in South Korea in April.

Regarding the initiative, President Lee expressed high expectations, stating, "This partnership, proposed by South Korea and embraced by France, will serve as a solid stepping stone for local content to advance onto the global stage through joint investments and co-productions, alongside funding to revitalize our respective domestic film and audiovisual sectors."

He added, "I hope this partnership transcends bilateral ties to expand globally, serving as a guiding light that illuminates a new future for the worldwide film and audiovisual industry."

President Lee assessed that the audiovisual industry faces a crisis in traditional cinema alongside the dawn of the artificial intelligence (AI) era, presenting both threats and opportunities.

"The media environment and audience behavior, which have shifted dramatically since the COVID-19 pandemic, coupled with the rapid spread of AI technology, are accelerating a sweeping transformation in how film and audiovisual content is produced and consumed," President Lee said.

He emphasized, "Failing to properly adapt to these shifting times poses a clear crisis, but responding proactively presents a distinct opportunity. It is time for leaders who have driven innovation in the cultural sector to pool their wisdom so that we turn this change into an opportunity rather than a crisis."

Highlighting challenges that have accompanied the rise of generative AI—including job losses across the film industry as well as copyright and training data disputes—President Lee noted, "Many tasks must be addressed for AI to fulfill a constructive role."

In particular, President Lee introduced the "San Francisco AI Declaration" unveiled in San Francisco last July, pledging, "As a key player in the global AI supply chain, South Korea will fulfill its responsibilities to ensure that humanity and AI coexist harmoniously."

He urged, "I ask the film and audiovisual industry figures gathered here to join forces so that AI technologies can be applied in the creative process based on human-centered values to foster human growth."

President Lee also stressed that developing the film and audiovisual sectors requires greater diversity in independent cinema, and that the rise of over-the-top (OTT) platforms demands urgent cooperation and coexistence between domestic ecosystems and global platforms.

"Independent cinema is the undeniable future and sustainable growth engine of the film industry," President Lee said. "To ensure that more independent films continue to be made, that new experiments persist, and that emerging creative talents are constantly discovered to lead the industry's future, national support and multilateral cooperation must continue."

He also pointed out, "While the rise and spread of global OTT platforms have opened a new era of globalizing local content, the diminishing influence of local broadcasters and issues surrounding coexistence between domestic production companies and global platforms remain challenges we must address together."

He added, "If local broadcasters and streaming services in each country strive for mutual growth while creating and unearthing diverse, creative content with distinct vision and character, I am confident the global film and audiovisual ecosystem will grow healthier and richer."

He promised, "South Korea will take the lead in producing local content that resonates with humanity beyond borders and language barriers, while fulfilling a responsible role so that coexistence between local and global players becomes established as the primary principle across the worldwide audiovisual industry."

The inaugural Lumière Summit brought together 274 prominent executives, policymakers, political leaders, and cultural figures from the film, broadcasting, audiovisual, and gaming industries across some 30 nations, including CJ Group Vice Chairwoman Miky Lee and senior executives from Netflix and Walt Disney.

                                                                                                            Hong Sun-mi