Macron says France, South Korea to invest US$1.15 billion to support audiovisual industry
SAINT-PAUL-DE-VENCE: France and South Korea will invest one billion euros (US$1.15 billion) to support the audiovisual and entertainment sector, President Emmanuel Macron said as he brought together some of the world’s top entertainment bosses for a summit on the future of cinema. The summit, which takes place in the medieval village of Saint-Paul-de-Vence near Nice, hopes to forge new alliances and spur action to support the film industry as it faces threats from artificial intelligence and increasing competition from streaming platforms. More than 200 guests from 55 countries including Hollywood star George Clooney gathered for the Lumiere summit, a nod to Auguste and Louis Lumiere, the French brothers considered the inventors of the motion picture. “Together, we are committing one billion euros over five years to create what we have called the Lumiere Partnership, an initiative dedicated to supporting the audiovisual sector and cultural sovereignty,” Macron said at the event co-chaired by South Korean President Lee Jae Myung. According to a source familiar with the matter, a 500 million euro contribution will come from France’s …








