🤝 France and South Korea Launch €1 Billion Film Fund
France and South Korea have unveiled the Lumière Partnership, a joint €1 billion ($1.16 billion) initiative designed to support independent cinema and foster national media champions. Each nation will contribute €500 million between 2027 and 2031.
The agreement was announced by Presidents Emmanuel Macron and Lee Jae-myung during the Lumière Summit in Saint-Paul-de-Vence.
The program aims to bolster local film and television companies, enabling them to compete on the global stage. France’s share of the funding will be managed by the public investment bank Bpifrance, in coordination with the National Centre for Cinema and the Moving Image (CNC). Key financial instruments include equity stakes to strengthen the capital structure of production houses, targeted R&D and content development grants, and co-financing frameworks structured to share risk with private investors. South Korea will match the funding, underscoring its commitment to protecting copyright, preserving cultural diversity, and prioritizing human creativity over automated technologies.
This launch comes amid record interest in French filming locations. In the first eight months of 2026, foreign production studios committed €628.5 million to physical production in the country—comprising €379.9 million for live-action films and series, €207.1 million for animation, and €41.5 million for visual effects (VFX). By year-end, foreign content investment in France is projected to approach €1 billion, nearly doubling last year’s figures.
The surging appeal of the French market stems from tax incentives and the government’s Grande Fabrique de l’Image program, which expands studio facilities, technical infrastructure, and talent training. The Lumière Partnership remains open to other nations seeking to strengthen the sovereignty of their creative industries.
Source: Variety
