Following South Korea and France's decision to elevate bilateral ties to a "global strategic partnership," major corporations from both nations moved swiftly to expand substantive economic cooperation. Top Korean business leaders — including Jay Y. Lee, executive chairman of Samsung Electronics (005930.KS); Euisun Chung, executive chairman of Hyundai Motor Group; and Choi Soo-yeon, CEO of Naver (035420.KS) — held a meeting lasting more than an hour with French President Emmanuel Macron. They pledged cooperation across key industries including artificial intelligence, biotechnology, and energy. A total of 12 memorandums of understanding were signed at a gathering that brought together business leaders from both countries.
At the "Korea-France Business Future Dialogue" hosted by the Korea Enterprises Federation (KEF) at the FKI Tower in Yeongdeungpo-gu, Seoul, on June 3, President Macron and South Korean Prime Minister Kim Min-seok were joined by Lee, Chung, Choi, Lee Hyung-hee (vice chairman of SK Supex Council), Kwon Bong-seok (vice chairman of LG), and Huh Se-hong (vice chairman of GS Caltex) to discuss economic cooperation measures. POSCO Holdings (005490.KS), Hanjin, and Doosan also attended. Lee, Chung, and Choi held a private meeting with President Macron lasting more than an hour.
After the meeting, the business leaders sat in the front row of the venue and listened to President Macron's keynote address at the closing ceremony. Following a state luncheon earlier in the day, the economic exchange event drew some 300 senior figures from French government and business circles, including executives from major companies such as Sanofi (the global pharmaceutical giant), Air Liquide (a Hyundai Motor partner), and Clara Chappaz, France's Minister Delegate for AI and Digital Affairs. Major Korean companies sought to use the occasion to broaden cooperation channels.
"I met with Hyundai Motor Chairman (Chung Euisun) previously and I believe a hydrogen partnership is possible," President Macron said. "We can achieve decarbonization through long-term contracts." Regarding Samsung Electronics, he added, "I hope for progress in AI and quantum semiconductors, and I met with Samsung previously on this matter. I want to manufacture semiconductors together with Korea." Macron highlighted France's regulatory reforms and its capacity to attract new businesses such as data centers, urging Korean companies to increase investment in France.
President Macron repeatedly emphasized that Europe, including France, is a "good place to do business," particularly targeting the United States. "Europe has considerable attractiveness and the system is being modernized and simplified," he said. "Above all, compared to the United States, it is predictable, complies with international law, and tariffs are not the same as those of the U.S." He also conveyed that South Korea and France, both navigating great-power competition, share similar positions and can expand cooperation in diverse fields including biotechnology, quantum technology, and culture.
In line with President Macron's remarks, Hyundai Motor (005380.KS) is pursuing hydrogen supply cooperation with French company OPmobility. OPmobility manufactures high-pressure hydrogen tanks, an essential storage solution for hydrogen supply. "We plan to collaborate with Hyundai Motor starting later this year," OPmobility CEO Félicie Burelle said. "By supplying hydrogen through high-pressure hydrogen tanks, we can support Hyundai Mobis and Hyundai Motor's hydrogen energy business."
Ken Ramírez, executive vice president and head of hydrogen at Hyundai Motor, said, "Hyundai Motor has been conducting hydrogen-related research for more than 30 years. We aim to expand various hydrogen solutions spanning production, storage, distribution, transportation, power generation, and fuel cells." Hyundai Motor recently announced a 9 trillion won (approximately $6.5 billion) investment plan for the Saemangeum area in Jeollabuk-do Province to secure an innovation growth hub, including hydrogen.
Separately, 12 MOUs between Korean and French companies were signed at the event. Kakao Healthcare agreed to cooperate with Sanofi on multimodal AI-based drug development. Sanofi is advancing AI solutions that can dramatically improve drug development efficiency and plans to actively introduce them in South Korea — a leading country in clinical trials — through Kakao Healthcare.
"Sanofi possesses highly advanced AI capable of pharmaceutical treatment and digital-based diagnostic prediction," said Cho Yong-hyun, head of Kakao Healthcare's division. "We plan to utilize Sanofi's solutions in Korea and refine them for the Asian market." Kakao Healthcare is reportedly set to cooperate in providing clinical trial data for AI training. Clinical data from hospitals is classified as sensitive information, making it difficult for companies to use for AI learning. Kakao Healthcare has built a data research platform and secured data through partnerships with 20 major general hospitals, including Severance Hospital.
GS Caltex signed an MOU with Veolia, a global environmental, energy, and resource solutions company, to advance wastewater treatment operations. Veolia employs 215,000 specialists across 56 countries, providing water quality, waste, and energy management services while securing comprehensive resource efficiency technologies.
GS Caltex is expanding wastewater treatment as a new business area that can simultaneously address carbon reduction and bio-feedstock production. For instance, last year the company began recycling palm oil mill effluent (POME) from palm oil factories in Indonesia to secure bio-feedstock and reduce greenhouse gas emissions. Palm oil waste can be used for biofuels such as sustainable aviation fuel (SAF). Water and sediment recovered during the treatment process are recycled as irrigation water and compost for palm plantations.
Business leaders also held panel discussions in three areas related to the MOUs: biotech, decarbonization, and deep tech. In the biotech session, Olivier Rousseau (Servier Korea representative), Bae Kyung-eun (Sanofi Korea representative), and division head Cho explored ways to build next-generation global competitiveness in bio by combining Korea's manufacturing and clinical capabilities with France's research and capital strengths.
The decarbonization session featured Vice President Ramírez, Yoon Chang-won (head of the Hydrogen and Low-Carbon Research Institute at POSCO Holdings), CEO Burelle, and Ronnie Chalmers (vice president of Air Liquide). Participants shared the view that decarbonization is a core pillar of industrial resilience and discussed specific directions for bilateral cooperation, including joint hydrogen initiatives.
In the deep tech session, France's Minister Delegate for AI and Digital Affairs Clara Chappaz personally served as moderator. Niccolo Somaschi (CEO of Quandela), Georges-Olivier Reymond (co-founder of Pasqal), and Kim Sung-hyuk (chairman of the Korea Quantum Industry Association) discussed creating synergies between France's basic science capabilities and Korea's industrial application strengths, as well as ways to accelerate the commercialization of quantum computing and AI models.
Prior to the forum, President Macron attended a ceremonial tree-planting for "Sky Garden," a French-style garden being created on the rooftop of FKI Tower to mark the 140th anniversary of Korea-France diplomatic relations. "The Sky Garden inherits the symbolism of Paris Park, which was established for the centennial of diplomatic relations, while symbolizing the elevated bilateral relationship on the 140th anniversary," KEF said. "Once completed, it will serve as an urban oasis for citizens and a space to share French culture in daily life."
