Seoul, April 3 (NationPress) - On Friday, South Korean President Lee Jae Myung announced that he and French President Emmanuel Macron have reached an agreement to collaborate on ensuring safe passage through the Strait of Hormuz and to alleviate the extensive repercussions stemming from the ongoing conflict in the Middle East.

During their summit discussions, Lee expressed concerns regarding the instability in global energy supply chains. The two leaders explored avenues to strengthen their economic partnership and enhance security coordination.

"President Macron and I have decided to exchange our policy experiences and strategies to jointly tackle the economic and energy challenges resulting from the conflict in the Middle East. We are also committed to working together to minimize uncertainty in the global economy," Lee stated during a joint press conference.

He further emphasized their commitment to enhancing energy security by increasing collaboration in the nuclear and offshore wind energy sectors, alongside efforts to secure safe maritime transport routes through the Strait of Hormuz.

Macron echoed the importance of cooperation between France and South Korea to help reopen the Strait of Hormuz and deescalate tensions in the Middle East, as reported by the Yonhap news agency.

Additionally, the two leaders agreed to elevate trade and investment, setting a target of reaching $20 billion in annual bilateral trade by 2030, an increase from $15 billion last year.

To facilitate collaboration, several memorandums of understanding (MOUs) and related documents were signed by both parties.

The agreements aim to enhance cooperation in advanced technologies and emerging industries such as artificial intelligence, semiconductors, and quantum technology, and to create a ministerial-level joint committee for science and technology.

They also signed a letter of intent focused on cooperation in critical mineral supply chains, merging South Korea's manufacturing strengths with France's processing technologies and infrastructure.

Under this collaboration, Korea Hydro and Nuclear Power signed MOUs with French nuclear entities, Orano and Framatome, along with a separate MOU with EDF for the joint development of an offshore wind power facility in Yeonggwang.

Lee expressed optimism that these agreements would ensure a reliable supply of raw materials for South Korea's nuclear facilities and pave the way for joint endeavors in the global market.

He also outlined plans for collaboration in space and defense, while committing to boost cultural exchange following an MOU signed between the cultural heritage agencies of both nations.

In their discussions, Lee detailed Seoul's initiatives to reestablish dialogue with Pyongyang to foster peace on the Korean Peninsula, with Macron reaffirming Paris' support for stability in the region.

"We both leaders recognize that peace on the Korean Peninsula has significant implications not only for Northeast Asia and Europe but for the entire world," Lee remarked.

Lee highlighted the expanding cooperation between Seoul and Paris across various sectors, including future strategic industries and reiterated the importance of deepening international coordination.

"As responsible global citizens, our two nations are also collaborating to address the rapid shifts in the global environment," he stated.

Lee announced that Macron extended a formal invitation to the upcoming Group of Seven summit scheduled for June in Evian, France, which he accepted. If he attends, it will be his second consecutive appearance at the G7, following last year's participation in Canada.