Korea-South Africa Economic Cooperation Committee Meeting... Secondary Battery and Hydrogen Cooperation

The Korea-Australia Economic Cooperation Committee was held domestically for the first time in five years.

The Korea-Australia Economic Cooperation Committee held its "44th Annual Meeting" on the 8th at the JW Marriott Hotel in Seoul. It was the first domestic meeting in five years since it was held in Busan in 2018.

Choi Jung-woo, Chairman of the Korea-Australia Economic Cooperation Committee, is delivering the opening remarks at the 44th Annual Meeting of the Korea-Australia Economic Cooperation Committee held on the 8th at JW Marriott Seoul.

At the meeting, Korean attendees included Choi Jung-woo, Chairman of the Korea-Australia Economic Cooperation Committee (Chairman of POSCO Group), Assemblyman Han Ki-ho (Chairman of the Korea-Australia Parliamentary Friendship Association), Bae Sang-geun, Executive Director of the Federation of Korean Industries, as well as representatives from GS Engineering & Construction, Hanwha Aerospace, and the Director of the Yonsei University Australia Research Center. From Australia, John Walker, Chairman of the Australia-Korea Business Council (AKBC), Roger Cook, Premier of Western Australia, Catherine Raper, Australian Ambassador to Korea, and key local business representatives from Pilbara and others attended.

Chairman Choi Jung-woo stated, "Korea and Australia are actively creating new areas of cooperation beyond a long-standing partnership, including critical minerals and the hydrogen economy. Through future-oriented cooperation in all major industries of both countries?from resource development to raw material production value chains, advanced technology research for securing renewable energy, national security, to eco-friendly materials?we can leap forward together on the global stage."

Roger Cook, Premier of Western Australia, who attended by special invitation from Chairman Choi, also emphasized, "Since participating in the Korean War, Western Australia has formed a blood alliance with Korea and maintained close relations in all fields. We will strengthen the cooperative relationship between Western Australia and Korean companies in areas such as HBI, secondary battery materials, and hydrogen projects promoted by POSCO Group."

At this Economic Cooperation Committee meeting, under the theme of "Exploring an Innovative Future through Korea-Australia Cooperation," companies and institutions from both countries, including POSCO, presented business cooperation plans in five sectors: research and industrial cooperation, critical minerals, defense/aerospace, food and bio, and clean energy (hydrogen).

The Korea Institute of Science and Technology Evaluation and Planning and the Korea Institute of Geoscience and Mineral Resources proposed expanding collaboration in research and development (R&D) with Australia and cooperation in carbon capture and storage (CCS), a key decarbonization technology.

In the critical minerals sector, Pilbara Minerals, which owns lithium mines, along with POSCO Holdings and Australian mineral exploration company Arafura, presented on the necessity of environmentally friendly production and establishing a stable supply chain for raw materials of secondary battery materials such as lithium and rare earth elements.

In the defense and food sectors, Australian special machinery manufacturer and solutions company ANCA, Hanwha Aerospace, POSCO International, and Lotte Trading presented cooperation plans and business visions.

Additionally, in the clean energy sector, POSCO Holdings, which has started investing in green hydrogen for eco-friendly steel production in Australia, and Korea Zinc, which established an Australian subsidiary related to green hydrogen, proposed the need for institutional support from both countries.

Meanwhile, since the first meeting held in 1979, the Korea-Australia Economic Cooperation Committee has gradually expanded its traditional cooperation, which was centered on coal and LNG, into future industries such as lithium and secondary battery materials, hydrogen, green steel, and defense industries, especially after Choi Jung-woo, Chairman of POSCO Group, took office as the Korean side chairman of the committee in 2018.

This content was produced with the assistance of AI translation services.