President Lee Jae-myung said South Korea and France would cooperate to secure safe shipping lanes through the Strait of Hormuz after holding a summit with French President Emmanuel Macron on Thursday.
The two countries agreed to upgrade their bilateral relationship to a "Global Strategic Partnership," expanding cooperation beyond economic and cultural ties into the security domain. The upgrade comes 22 years after the two nations established a "21st Century Comprehensive Partnership."
"The repercussions of the Middle East war are shaking the international order," Lee said at the summit held at Cheong Wa Dae. "The impact is spreading to the global economy and energy sector."
Macron responded that the two countries could "strengthen cooperation in the defense sector and contribute to stabilizing the Middle East situation." He added, "Bombings and violence, including in the Hormuz region, must be calmed."
The two sides revised three agreements and signed 11 memorandums of understanding centered on strategic industry cooperation in nuclear supply chains, critical minerals, and artificial intelligence.
"We will strengthen energy security by expanding cooperation in nuclear power and offshore wind," Lee said. "We will increase bilateral trade from $15 billion last year to $20 billion by 2030."
Lee stressed that cooperation between Korea Hydro & Nuclear Power (KHNP) and France's Orano and Framatome would "stabilize nuclear fuel supply and build a foundation for joint entry into the global nuclear market."
