France and South Korea Pledge EUR 1 Billion Joint Fund for Global Screen Industries

France and South Korea each pledged EUR 500 million ($581 million) to the Lumière Partnership, totalling EUR 1 billion ($1.16 billion) for film, television and gaming, according to Variety. Funding deploys from 2027 through 2031 via equity stakes, R&D grants and co-financing. France's share flows through Bpifrance. The fund is open to additional countries.