Seoul: President Lee Jae Myung announced that South Korea and France have agreed to collaborate on ensuring safe passage through the Strait of Hormuz and addressing the impacts of the Middle East conflict.
According to Yonhap News Agency, President Lee and French President Emmanuel Macron engaged in summit talks, during which they discussed strengthening economic ties and security coordination. The discussions come amid concerns over global energy supply chain uncertainties due to the ongoing conflict in the Middle East.
President Lee emphasized their shared commitment to addressing the economic and energy crises sparked by the conflict, stating, "President Macron and I agreed to share policy-related experiences and strategies. We also concurred on working together to reduce uncertainty in the global economy." He highlighted the agreement to bolster energy security through cooperation in nuclear and offshore wind power sectors and secure safe maritime transport routes via the Strait of Hormuz.
The leaders set a goal of increasing annual bilateral trade from $15 billion to $20 billion by 2030 and signed various memorandums of understanding (MOUs) to foster collaboration in advanced technologies, including artificial intelligence, semiconductors, and quantum technology. A ministerial-level joint committee on science and technology is also planned.
In addition, the two countries signed a letter of intent to cooperate on critical mineral supply chains, aligning South Korea's manufacturing with France's processing capabilities. Korean and French nuclear firms signed MOUs to jointly develop an offshore wind power plant in Yeonggwang, South Korea.
President Lee expressed optimism that these agreements would stabilize raw material supplies for South Korea's nuclear power plants and facilitate global market entry. He also outlined plans for cooperation in space, defense, and cultural sectors, following a cultural heritage MOU.
During the summit, President Lee discussed South Korea's efforts to engage with Pyongyang for peace on the Korean Peninsula, receiving support from Macron. Lee noted the broad geopolitical implications of peace on the peninsula, highlighting the extensive cooperation between Seoul and Paris.
President Lee accepted Macron's invitation to the Group of Seven summit in France, marking his second consecutive attendance. The two nations have decided to elevate their relationship to a "global strategic partnership," enhancing cooperation in various fields, including security and Middle East stabilization.
Macron's visit to South Korea, his first since taking office in 2017, marks the 140th anniversary of diplomatic relations between the countries. The discussions reflect a commitment to expand collaboration on global challenges and strategic industries.