South Korean President Lee Jae Myung and French President Emmanuel Macron said on Friday they planned to boost defence cooperation and work together to address the economic and energy crises triggered by the war in Iran.
Macron arrived in South Korea on Thursday for a two-day state visit after also visiting Japan, and held a summit in Seoul on Friday.
It is the first state visit by a French president since 2015 and French officials have said the trip aims to strengthen France's strategic and economic role in the region at a time of "strong international and regional tensions."
"President Macron and I agreed to share policy-related experiences and strategies in order to jointly address the economic and energy crises triggered by the Middle East war," Lee said after the summit.
The leaders also confirmed their commitment to bolstering energy security including by collaborating to secure safe maritime transport routes through the Strait of Hormuz, he said.
Like other Asian economies, South Korea relies heavily on energy imports, including through the Strait of Hormuz. Iran has effectively shut down the waterway in retaliation for US-Israeli attacks that began on February 28, driving up energy prices and stoking fears of a global recession.
Macron said on Thursday that it would be unrealistic to launch a military operation to force open the strait, after US President Donald Trump challenged US allies to work towards reopening it.
Macron said after Friday's summit that the countries, both major arms manufacturers, would strive to boost their defence ties.
"What we want to do is give this cooperation a contemporary dimension," Macron said, citing joint exercises and more cooperation in production and in critical military capabilities.
"On both sides, we want to equip ourselves with greater strategic depth in military production." Lee also said the countries will further expand cooperation in security fields such as aerospace and defence.
South Korea and France are due to sign a number of preliminary agreements to cooperate in sectors including critical minerals, semiconductors, quantum technologies, nuclear energy and wind power, Lee's office said.
The countries also aimed to increase bilateral trade to $20 billion by 2030 from $15 billion in 2025, Lee said.
Lee highlighted memoranda of understanding to be signed between South Korea's state-run Korea Hydro Nuclear Power and French companies Orano and Framatome, saying this would help secure fuel supplies for Korean nuclear power plants and lay the foundation for joint entry into the global nuclear market.
The French president is scheduled to deliver a speech at Yonsei University in Seoul after the summit, and attend a business forum alongside Prime Minister Kim Min-seok, according to the Blue House.
Macron is scheduled to meet the CEOs of Samsung, Naver and Hyundai Motor during the trip as he seeks to boost French exports to South Korea and attract Korean investment into France’s industrial and technology sectors, according to the Elysee.
(Reporting by Heejin Kim and Joyce Lee; Additional reporting by Gabriel Stargardter, Eduardo Baptista, Camille Raynaud, Jihoon Lee and Joyce Lee Editing by Ed Davies and Kim Coghill)
