Korea-France to Strengthen Cooperation in 'New Industries, Digital, and Startups' Sectors

Moon Seung-wook, Minister of Industry, Meets with French Minister in Charge of Digital Transition and Electronic Communications
Both Countries Agree "There is Great Potential for Cooperation in Digital and Eco-friendly Sectors"

Moon Seung-wook, Minister of Trade, Industry and Energy (file photo) [Image source=Yonhap News]

[Sejong=Asia Economy Reporter Joo Sang-don] Moon Seung-wook, Minister of Trade, Industry and Energy, met on the 19th with C?dric O, French Minister of Digital Transition and Electronic Communications of the Ministry of Economy, Finance and Recovery, who visited Korea, to discuss cooperation measures between Korea and France in new industries, digital, and startups.

At the meeting, both sides shared the recognition that France's post-COVID-19 economic stimulus plan (France Relance) and the recently announced 'France 2030' by President Macron are similar to Korea's New Deal, indicating significant potential for bilateral cooperation in digital and eco-friendly sectors.

France announced an economic stimulus plan in September last year to invest 100 billion euros (approximately 134 trillion KRW) by 2022 in three major areas: eco-friendly, digital transition, and social solidarity. The 'France 2030' plan, announced in October this year, aims to invest 30 billion euros from 2022 to 2025 to establish a strategic industrial base, including 6 billion euros for securing semiconductor and other electronic component technologies.

Earlier, the two countries' leaders agreed during two summits held in June and October this year to revitalize existing industrial cooperation channels to strengthen bilateral cooperation in new industries. Both sides agreed to steadily implement follow-up measures of the summits through the activation of industrial cooperation channels, including the 'Korea-France Economic Ministers' Dialogue.' They also discussed ways to expand cooperation between the two countries by promoting exchanges and cooperation among digital and startup companies.

Korea requested France, known as the country where the International Bureau of Expositions (BIE) headquarters is located and the origin of the World Expo, to show interest and support for Korea's bid for the '2030 Busan World Expo.'

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