Back-to-back summit diplomacy builds momentum for economic cooperation as leading companies from both countries gather

  The meeting was held during President Lee’s reciprocal state visit following President Emmanuel Macron’s state visit to Korea in April, which marked the 140th anniversary of diplomatic relations between the two countries. The roundtable held particular significance as an opportunity to advance economic cooperation following the two leaders’ decision earlier this year to elevate bilateral relations to a “Global Strategic Partnership.” Through the event, the two business communities agreed to develop Korea-France cooperation into a partnership for jointly shaping the future of strategic industries.

  The Korean participants included FKI Chairman Jin Roy Ryu; Jay Yong Lee, Chairman, Samsung Electronics; Ja Eun Koo, Chairman, LS Group; Hyun Joon Cho, Chairman, Hyosung; Jaecheol Lyu, President, LG Electronics; Sung Kim, President, Hyundai Motor Company; Soo-yeon Choi, CEO, NAVER; Sang Seop Na, CEO, Hanwha TotalEnergies Petrochemical; Hoe Chun Kim, President, Korea Hydro & Nuclear Power; Jin-seok Seo, CEO, Celltrion; Kyoung Choi, Vice Chairman, COSMAX; and June-Koo Kevin Rhee, CEO, Qunova Computing.

  The French participants included François Jackow, CEO of Air Liquide and French-side Chair of the Korea-France Economic Cooperation Committee; Jean Lemierre, Chairman of BNP Paribas, a leading European financial group; Nicolas Hieronimus, CEO of global cosmetics company L’Oréal; Félicie Burelle, CEO of OPmobility, a key supplier in the global mobility value chain; and Claude Imauven, Chairman of Orano, an integrated nuclear company operating across the nuclear fuel cycle from uranium mining to reprocessing. The roundtable was also attended by the heads of key deep-tech companies driving innovation, including Mistral AI, AMI Labs and Quandela.

FKI Chairman Jin Roy Ryu: “Building on 140 years of friendship, we look forward to synergies between French creativity and Korean innovation”

  In his opening remarks, FKI Chairman Jin Roy Ryu remarked, “Korea and France have led major changes through creativity and innovation.” He highlighted the potential synergies between France’s strengths in science, technology and creativity and Korea’s strengths in advanced manufacturing and innovation and stated, “By combining our capabilities, we will broaden the horizons of economic cooperation and form a partnership grounded in advanced technology and innovation."

  Chairman Ryu also emphasized that back-to-back summit diplomacy had strengthened the momentum for economic cooperation. Referring to the tree he planted with President Macron during the French president’s state visit to Korea in April, Chairman Ryu noted, “The friendship and economic cooperation between our two countries are taking root more deeply and firmly.”

Korea and France seek to advance partnerships in AI, quantum technology, mobility, biotech and cosmetics

  At the roundtable, companies from the two countries proposed directions for cooperation in four areas: advanced technologies, including AI and quantum technology; energy and sustainable chemicals; decarbonized mobility and infrastructure & finance; and healthcare and cosmetics. Participants agreed that Korea’s advanced technologies and practical experience in industrial application combined with France’s R&D capabilities and distinctive heritage could create new growth opportunities in global markets.

  In AI, exchanges of talent and technology have been expanding around R&D bases in France, including NAVER LABS Europe in Grenoble. NAVER and Mistral AI highlighted their wide-ranging partnership to pursue opportunities in the sovereign AI market and expressed expectations for jointly expanding into global markets. They also shared their plan to broaden bilateral cooperation into the AI factory sector.

  In quantum computing, participants agreed that combining the foundational technologies and basic-science capabilities of French quantum hardware companies such as Quandela with Korea’s strengths in semiconductors, AI infrastructure and advanced manufacturing could generate significant synergies. Qunova proposed that the two countries establish a global testbed collaboration model for industrializing quantum technologies and jointly secure an early lead in global quantum-computing supply chains and application ecosystems.

  Participants then discussed how Korea could contribute to upgrading France’s power grid. Discussion then turned to how Korea could contribute to the modernization of France’s power grid. LS noted that Korean companies could serve as ideal partners in this effort, given their broad production capabilities across the value chain—from enamel and other materials to cable solutions. Hyosung also noted that it would contribute to the shared growth of both countries by serving as a strategic partner in power solutions, key nuclear power equipment, including pumps, and specialty gases for semiconductor manufacturing.

  The participants also discussed ways to lay the groundwork for building a hydrogen ecosystem, strengthening supply-chain cooperation, and developing talent for the future mobility sector. Hyundai Motor announced plans to launch its Future Mobility School in France as the program’s first European location, with the aim of expanding exchanges and educational cooperation for future generations. LG, which is expanding collaboration with French automaker Renault across a range of areas, including high-performance batteries, vehicle solutions, and automotive software, also outlined its plan to become a key partner in economic cooperation between Korea and France.

  With Korea now the world’s second-largest cosmetics exporter, COSMAX explored the potential for strategic cooperation combining the technological strengths of Korea’s cosmetics industry with France’s brand expertise as a global leader in cosmetics. In the biotech sector, Celltrion highlighted its acquisition of French healthcare company Gifrer as part of its efforts to expand cooperation on biosimilars. The company stressed the need for close cooperation and institutional support, as Korean-made biosimilar medicines could bring greater healthcare benefits to the French public.

  The state visit to France and exchanges between the two business communities also yielded tangible outcomes for bilateral economic cooperation: Samsung Electronics and Mistral AI signed an investment agreement; COSMAX and L’Oréal signed a memorandum of understanding; and Korea Hydro & Nuclear Power and Orano signed a letter of intent for cooperation.