France and Korea Pledge $1.16 Billion for Film Over Five Years

Presidents Emmanuel Macron and Lee Jae-myung adopted a joint declaration on film and video industry investment at the inaugural Lumiere Summit in Saint-Paul-de-Vence on September 7. Each country commits EUR 500 million (~$580 million) starting in 2027. The same summit launched Alliance Lumiere, a network of 54 national film agencies including Germany's FFA, Ireland's Screen Ireland and the UK's BFI, which will meet annually in Cannes and at a rotating congress. The next question is where the money goes: France's existing levers are the CNC automatic and selective systems, Korea's are KOFIC and regional funds.

Source: Seoul Economic Daily | Primary: Screen Ireland