Seoul: President Lee Jae Myung announced that South Korea and France have reached an agreement to ensure safe passage through the Strait of Hormuz, amid concerns over the Middle East war's impact on global energy supply chains. During summit talks with French President Emmanuel Macron, both leaders committed to strengthening economic ties and security coordination.
According to Yonhap News Agency, Lee emphasized the importance of sharing policy experiences and strategies to address the economic and energy crises caused by the Middle East conflict. Both countries pledged to reduce global economic uncertainties and enhance energy security through cooperation in nuclear and offshore wind power sectors, while securing maritime transport routes through the Strait of Hormuz.
Macron highlighted the necessity for bilateral cooperation to reopen the Strait of Hormuz and deescalate the Middle Eastern conflict. The leaders also set a target to increase annual bilateral trade to $20 billion by 2030 from $15 billion last year. A series of memorandums of understanding (MOUs) were signed to promote collaboration in advanced technologies and future industries like artificial intelligence, semiconductors, and quantum technology.
An agreement was also reached on critical mineral supply chains, combining South Korea's manufacturing strength with France's processing technology. The Korea Hydro and Nuclear Power entered MOUs with French firms Orano and Framatome, and with EDF for developing an offshore wind power plant in Yeonggwang.
Lee expressed hopes that these agreements would secure a stable raw material supply for South Korea's nuclear plants and facilitate global market entry. The leaders also discussed cooperation in space and defense, and cultural sector collaboration following an MOU between the countries' cultural heritage agencies.
During the discussions, Lee outlined efforts to resume dialogue with Pyongyang, and Macron reiterated France's support for peace on the Korean Peninsula. The leaders agreed that peace in the region has global implications and expressed intentions to deepen international coordination.
Lee accepted Macron's invitation to the upcoming Group of Seven summit in France, marking his second consecutive appearance. The leaders announced the upgrade of bilateral ties to a "global strategic partnership," celebrating 140 years of diplomatic relations.
In a joint statement, Lee and Macron expressed concern over Middle Eastern attacks on civilian infrastructures and global energy supply disruptions. They committed to cooperating with regional countries under U.N. Security Council resolutions and international law, supporting navigation freedom in strategic waterways.
They also pledged humanitarian support for Ukraine and called for halting unlawful military cooperation between Russia and North Korea. Macron's visit marks the first by a French president to South Korea in 11 years, coinciding with the anniversary of diplomatic relations established with the Treaty of Friendship, Commerce and Navigation.
Following the summit, Lee hosted a state luncheon for Macron, attended by business leaders and K-pop artists. He praised France as a longstanding ally, recalling its contribution of troops during the Korean War, and expressed a desire to strengthen bilateral ties following Macron's visit.