Lee Young, Minister of SMEs and Startups, Discusses Cooperation with 'Luxury King' LVMH Chairman Arnaud Arnault

Meeting with LVMH Chairman, Global Luxury Industry Leader
Visit to Dassault Syst?mes, No.1 in 3D Design
Collaboration Talks with Air Liquide and JC Deco

Lee Young, Minister of SMEs and Startups, attending 'Viva Technology (Vivatech) 2023' held in Paris, France, held successive meetings with heads of French global conglomerates, including Bernard Arnault, chairman of LVMH, known as the 'King of Luxury.'

Minister Lee Young of the Ministry of SMEs and Startups (right) is shaking hands with Jean-Charles Decaux, CEO and Chairman of the Board of JC Decaux, at Viva Technology 2023 in Paris, France, on the 15th (local time).
Photo by the Ministry of SMEs and Startups

On the 16th, the Ministry of SMEs and Startups announced, "To activate Korea-France open innovation, we engaged in relay communication with French global conglomerates." Chairman Arnault visited the K-Startup integrated pavilion, toured startup booths, and discussed open innovation cooperation between K-Startups and LVMH with Minister Lee. LVMH, led by Chairman Arnault, is the world's number one luxury goods group. It oversees luxury brands such as 'Louis Vuitton,' 'Dior,' 'Celine,' 'Tiffany & Co.,' and 'Bulgari.' Last year, its sales reached $54.9 billion (approximately 70 trillion KRW). Chairman Arnault, known as the 'King of Luxury,' ranked first in Forbes' billionaire list announced in April, with $211 billion (approximately 270 trillion KRW).

Next, Minister Lee visited the Paris headquarters of Dassault Syst?mes and held detailed discussions with Chairman Bernard Charl?s regarding the establishment of a 'Biotech Innovation Center' (tentative name). Dassault Syst?mes is the world's number one company in 3D design and simulation. Its sales last year were 7.9 trillion KRW. Dassault Syst?mes is working with the Ministry of SMEs and Startups to establish the first 3D Experience Lab in the life sciences field in Korea.

Minister Lee also visited the headquarters of Air Liquide and met with Fran?ois Jacq, who recently assumed the chairmanship of the French Business Confederation (MEDEF). They discussed expanding exchanges between Korean and French innovative companies and collaboration in nurturing startups. Air Liquide is the world's second-largest industrial gas supplier. Its sales last year were 29.9 billion euros (approximately 41 trillion KRW). Additionally, an MOU was signed with JCDecaux, a global leader specializing in outdoor media advertising, to support promotion and demonstration.

Minister Lee said, "To enter France and Europe, it is important to cooperate with global companies that have infrastructure and networks," adding, "I expect open innovation between our ventures and startups and French conglomerates to become active through this visit to France."

This content was produced with the assistance of AI translation services.