Description: French President Emmanuel Macron visited his South Korean counterpart, Lee Jae Myung, in his ad – hoc Asia summit, following the crisis in the Middle East. The leaders agreed on several fields of cooperation while issuing a joint statement that supported the UK – led initiative for international involvement in reopening the Strait of Hormuz, issued later last week. Macron and Lee agreed to enhance bilateral cooperation in critical fields such as nuclear energy supply lines, artificial intelligence, exploration of critical minerals and offshore wind projects. Macron’s visit to South Korea arrives on the back of his visit to Japan as the French president attempts to draw Asian investments to France and strengthen strategic ties in critical fields.
Impact: The leaders meeting underscores the importance of devising alternative energy resources and developing closer cooperation in fields such as technological development and the exploration of critical materials. South Korea would aim at sharing its vast industrial knowledge with European countries such as France, while France would aim to enhance direct foreign investments from technologically pioneering countries such as South Korea. The joint statement in regard to the reopening of the Strait of Hormuz is purely symbolic and a political show of support for the joint initiative launched through a virtual meeting last week in the UK.