Australia Korea Future Forum

I acknowledge the Traditional Custodians of the land on which we meet, the Ngunnawal and Ngambri peoples.

I pay my respects to Elders past and present.

I extend that respect to Aboriginal and Torres Strait Islander people here this evening.

I acknowledge:

• Ambassador of the Republic of Korea to Australia, His Excellency KIM Wan-joong;
• Chair of the Australia-Korea Foundation, Peter Coleman;
• President of the Korea Foundation, KIM Gheewhan;
• Members of the Australia-Korea Foundation Board.

Australia and the Republic of Korea are natural partners. 

We share a clear vision.

A vision for a peaceful, stable and prosperous future for our region.

We believe in the benefits of free trade.

And in a rules-based global order, where sovereignty is respected.

So, it is no wonder that our two countries have become close partners since diplomatic relations commenced back in 1961.

We marked the 60th anniversary of our diplomatic relations by entering into a Comprehensive Strategic Partnership.

And since then, our relationship has gone from strength to strength.

The potential in our relationship is greater today than it has ever been.

This potential lies in the three pillars that form the foundation of our relationship.

Strategic and security cooperation.

Economic, innovation and technology cooperation.

And our people-to-people links.

These pillars guide us as we work to capitalise on the potential we see in our relationship.

Pillar 1: Strategic and security cooperation

As Foreign Minister Wong has outlined:

“…strategic competition in our region is operating on several levels. Domains that we might prefer to separate – economic, diplomatic, strategic, military – all interwoven, and all framed by an intense contest of narratives.”

The combination of these challenges in our region are in many ways unprecedented.

Middle powers like Australia and the Republic of Korea play an important role in shaping regional priorities and speaking out on dynamics and behaviours that undermine established rules and norms.

Australia and Korea's strategic and security engagement is multi-faceted. We are working bilaterally, and we are working regionally.  

Bilaterally, Australia is committed to solidifying our cooperation with Korea in defence capability. 

In May, Australian Deputy Prime Minister Marles and Korean Minister for National Defence Lee agreed to further strengthen our defence relationship.

That includes the Australian Government selecting Korean company Hanwha Defense Australia as the preferred tenderer to deliver 129 infantry fighting vehicles to the Australian Army.

These vehicles will support thousands of jobs and efforts to further develop Australia's sovereign defence manufacturing capabilities.

We are also deepening our cooperation on cyber security, to ensure our people, businesses and governments at every level can operate safely online.

But Australia and Korea are not just working to increase our own security, but to make our region safer and more stable.

We welcomed Korea's Indo-Pacific Strategy and the commitment it contains to invest in the region and work with like-minded partners on economic and security engagement.

We appreciated Korea's decision to host the first ROK-Pacific Leaders' Summit in May, attended by Australia's Deputy Prime Minister Marles…

…which considered ways to further strengthen collaboration between Korea and the Pacific Islands Forum on key issues such as sustainable development, climate change, and people-to-people exchanges.

We also welcomed Korea's active participation in Talisman Sabre military exercises in July and August.

Through our ongoing, deepening bilateral and regional strategic and security cooperation, we are working towards a region that is more stable, and more prosperous.

Pillar 2: Economic, innovation and technology cooperation

The second pillar of our relationship is our economic, technology and innovation cooperation.

Next year will be ten years since the Korea-Australia Free Trade Agreement, known as KAFTA, entered into force.

KAFTA has been a driver for increased trade between our countries, and we should explore how we can enhance KAFTA to continue creating more opportunities for our businesses to work together.

Our bilateral relationship relies on resources and energy, and has traditionally been carbon-intensive.

The existential challenge for the next ten years is how to decarbonise our economies, while maintaining prosperity and high living standards.

At home, we're on track to meet our target of net zero by 2050.

And Australia's critical minerals, metals and rare earths will help Korean companies maintain their lead in rechargeable batteries, solar cells, hydrogen fuel cells and electric vehicles.

Regionally, Australia and Korea can work together to support the Indo-Pacific region's energy transition though the provision of renewables, value-added products, and clean energy expertise and technology.

But Australia can make the biggest contribution to global decarbonisation by exporting reliable and affordable clean energy around the globe.

If Australia is to develop and deliver new technologies like hydrogen and green steel that will support the world's high-tech and low emissions manufacturing industries of the future, Australia needs a massive amount of Korean investment.

Fortunately, this has already begun.

In December 2022, Prime Minister Albanese met with the CEO of Korean steelmaking company POSCO, after which POSCO announced their intention to invest a total of USD 40 billion in Australia.

Australia's Minister for Climate Change and Energy, Chris Bowen, visited Seoul in July where our countries agreed to start dialogue on an elevated energy partnership, to further build on clean energy, green economy and climate cooperation.

We are committed to the exchange of knowledge and collective pursuit of innovation in these areas.

We also know that it is imperative that we diversify to develop secure, reliable, trusted supply chains.

As Minister Bowen said during his visit:

“Australia and Korea have a relationship and trading history which is positive, deep and long. We will always be a reliable, stable and secure trading partner for Korea.”

Our shared intention to pursue a sustainable and prosperous future for our countries and our region is well-founded.

Our economic relationship is built on trust and stability.

And because of that, it knows no bounds.

Pillar 3: People-to-people links

I'm particularly pleased to see the growth in our people-to-people connections, the third pillar of our relationship.

Opportunities for Koreans and Australians to collaborate and experience each other's cultures have increased in recent years.

We are increasingly living, working, studying and travelling between Australia and Korea.

Before the pandemic, more than 150,000 Australians would visit Korea every year.

And tourism between our two countries is returning to pre-pandemic levels.

There are now more direct flights between Seoul and Australia than ever before.

And, like so many countries, Australia has been consumed by the wave of popularity that is K-drama and K-pop.

As a fan of K-pop myself, I always enjoy seeing my counterpart's shock when I tell them there is an Australian connection to K-pop sensation BLACKPINK, as group member Rosé grew up in Australia. 

She went to school in my home city of Melbourne, before leaving for South Korea to seek K-pop stardom as a 15-year-old.

Well, she was born in New Zealand, but really, what's more Australian than laying claim to a cultural export from New Zealand?

I also enjoy that all-girl group NewJeans has not one but two Australian members.

And I was particularly happy that, to celebrate the 60th anniversary of bilateral relations in 2021, the Wiggles, an Australian cultural icon, collaborated with the Korean Cultural Centre Australia…

…to create a three-part video special for children in both Australia and South Korea to enjoy.

Music connects us to each other.

I highlight our tourism and artistic ties under this pillar for a reason.

Because the more we meet each other in person, the more we listen to and understand each other, the more we can achieve together.

Conclusion

Events like the Korea Australia Future Forum are a great opportunity for us to share our world view and experiences.

It is a tangible expression of our closer cooperation, an outcome agreed under our memorandum of understanding on Socio-Cultural Cooperation.

The extensive work that the Australia-Korea Foundation and the Korea Foundation do to connect our economies, our institutions and our people is invaluable and should be applauded.

It is something the Albanese Government is incredibly appreciative of.

I thank Peter Coleman, Gheewhan Kim, and the organisations they lead for bringing our countries closer together.

Their efforts are complemented through the Australia-Korea Foundation Grants…

…which aim to increase public awareness of our countries in the other, develop partnerships in areas of shared interest, and increase Australians' capacity to effectively engage with Korea.

Foreign Minister Wong announced 25 recipients of last the Grants last October, and I look forward to seeing the outcomes of the Grant Round 2023-24, which remains open.

The Foundation's Grant Program helps support a wide range of industries, including the arts sector.

Last year, for example, the AKF provided funding for the Busan Biennale arts festival and the Brisbane Writer's Festival – helping Korean and Australian creatives to connect in person after the pandemic.  

A project that brought together the Seoul Museum of Art, the Queensland Art Gallery / Gallery of Modern Art, and the Singapore Art Museum…

…and has enabled curators to strengthen their relationship and dialogues within the Indo-Pacific region and to present co-commissioned works in Seoul later this year, and in Brisbane as part of the Asia Pacific Triennale of Contemporary Art in 2024.

I am immensely optimistic about the future of our enduring partnership.

The strength of our relationship, built over the past 130 years, is a testament to our shared vision and unwavering commitment.

As we continue to build our economies, promote our values, and secure an inclusive and sustainable future for our people and for our region, I am confident that the bonds between Australia will only grow stronger.

I look forward to witnessing the remarkable journey that lies ahead in the coming decades of our partnership.

Together, we will rise to the challenges of our time, seize opportunities, and shape a bright future for our communities.

Thank you.