South Korea and France Agree to Establish Strategic Economic Cooperation Channel

SEOUL, Sept. 7 (Yonhap) -- South Korea and France have agreed to set up a cooperation channel covering strategic industries, trade and supply chains as they seek to deepen economic ties, Seoul's industry ministry said Monday.

Industry Minister Kim Jung-kwan held talks with Roland Lescure, France's minister for the economy, finance, industry, energy and digital sovereignty, in Paris on Monday on the sidelines of President Lee Jae Myung's visit to France, the ministry said.

The two sides agreed to launch a "strategic industrial dialogue," a ministerial-level channel to discuss trade issues and industrial policy, it said.

"The government will actively use the newly established ministerial dialogue to resolve difficulties facing Korean companies in France, while exploring new cooperation projects in advanced industries and supply chains," Kim said.

Kim also called on France to improve its electric vehicle (EV) subsidy scheme to ensure Korean-made EVs receive fair treatment in the French market.

The minister welcomed the European Union's Industrial Acceleration Act (IAA), saying it reflected the bloc's intention to extend benefits to key partner countries.

He asked Paris to support South Korea's efforts to receive treatment equal to that given to EU member states as a trusted key industrial partner of the bloc.