KOTRA hosts event to promote S. Korea-Australia cooperation in critical minerals, energy

SEOUL, Dec. 10 (Yonhap) -- The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday it has hosted a business cooperation event for South Korean and Australian companies to promote the two countries' collaboration in critical minerals, renewable energy, defense and other areas.

The event was held in Sydney on Tuesday (local time) as part of an agreement between the two countries to boost their ties in trade and defense, which was reached by their leaders in a bilateral summit held on the sidelines of the Asia-Pacific Economic Cooperation (APEC) gathering in Korea in late October.

The Sydney event was attended by representatives from 35 Korean firms in critical minerals, energy and consumer goods sectors and 80 firms from Australia and New Zealand, resulting in business deals worth a combined US$7.69 million, according to KOTRA.

KOTRA said the Australian Trade and Investment Commission, also called Austrade, made a presentation on ways to bolster cooperation between Korea and Australia in critical minerals and energy sectors.

Austrade also shared cooperation projects between Australian and Korean firms, including POSCO International Corp. and Hanwha Energy Corp.

"In the era of economic security, Australia's value as a strategic cooperation partner (for Korea) is growing bigger," KOTRA President Kang Kyung-sung said in a press release.

"Following the APEC gathering in Gyeongju, we will work to broaden Korea's economic cooperation with Australia to clean energy, consumer goods and others, beyond existing collaboration in minerals, defense and infrastructure," he added.

nyway@yna.co.kr
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