Chamber News
AustCham Korea
Welcome to AustCham Korea, the peak body representing Australian and Korean business interests
AustCham Korea Hosts Fireside Chat Luncheon with the Ambassador-designate Mr Jeff Robinson
On March 7th, AustCham Korea organised an exclusive 'Fireside Chat' luncheon event at the Conrad Hotel Seoul, featuring the newly appointed Australian Ambassador-designate, Mr Jeff Robinson.
Moderated by AustCham's Chair, Mr Ross Gregory, the event provided members and distinguished guests with a unique opportunity to gain insights into Mr Robinson's views on the developing relationship between Australia and Korea. With his extensive background in Korea, Mr. Robinson shared his experiences, the reasons behind his return to Korea as Ambassador, and his thoughts on key areas for increased collaboration within the bilateral partnership.
This 'Fireside Chat' was the first of its kind for the Chamber and was hailed as a significant success. It was marked by open discussions and exchanges between the moderator, the attendees, and Mr Robinson himself. The Chamber extends its gratitude to the Ambassador-designate for his support, openness, and contribution to what was a thought-provoking dialogue.
AustCham Korea Annual General Meeting 2024
AustCham Korea recently hosted its 2024 Annual General Meeting (AGM) on Wednesday, 20 March, at the Australia Centre in the Australian Embassy. The event commenced with welcoming remarks from the Australian Ambassador-designate, Mr Jeff Robinson.
Chaired by AustCham’s Executive Director, Rowan Petz, the event provided an overview of the Chamber's activities throughout 2023, highlighting over 55 events and engagements, including numerous senior-level business-to-government interactions. The Chamber's Treasurer, Kelly Lee, updated members on the Chamber's financial status, which showed a significant increase in revenue and a decrease in overall expenses.
In addition, the AGM saw the election of three Governors to the Board: Michael Chang (Senior Foreign Attorney and Partner at Shin & Kim) was re-elected, while David Gartside (Partner at Milbank) and Jaewan Lee (Senior Vice President at POSCO Holdings) were elected for the first time.
The meeting concluded with Rowan Petz expressing gratitude towards the Chamber’s Patron, the Board of Governors, the Secretariat, and its members for their unwavering support throughout 2023.
AustCham Hosts Mix at Six - Meat and Greet Edition
On March 5, 2024, AustCham Korea successfully held its first “Mix at Six” event of the year at the five-star ANdAZ Seoul Gangnam. The event, which was the largest of its kind to date, proudly welcomed over 150 participants, including special guests from the NSW Alumni Network in Korea. This gathering was made possible through the generous sponsorship of the Investment NSW and Meat & Livestock Australia(MLA).
The special “Meat and Greet” edition of Mix at Six featured an enticing menu with Australian lamb pies and beef slider burgers, which were immensely popular among those looking to savour a taste of Australia. Furthermore, the event was filled with excitement, offering attendees the opportunity to participate in the Mix at Six lucky draws. Prizes included food and beverage packages from Andaz Seoul Gangnam and a return flight to Australia, courtesy of Singapore Airlines.
Last but not least, we would like to thank our volunteers for their time and contribution to making the night a success. Thank you Hyung Ahn, Liam B.-Johnston, and Erlina Yang.
The “Mix at Six” events continue to serve as an ideal platform for networking, providing an environment for guests to socialise with peers, establish new relationships, and meet prospective clients. We look forward to welcoming you to our next event!
AustCham Korea Hosts Welcoming Reception for the Ambassador-Designate, Jeff Robinson
On March 4th, AustCham Korea extended a warm reception to the new Australian Ambassador-designate, Mr Jeff Robinson, during an exclusive meeting at the Australia Centre.
This event brought together AustCham Korea's Board of Governors, senior representatives from the Embassy, and Mr. Robinson to celebrate his appointment and welcome his return to Korea. In addition to his ambassadorial duties, Mr. Robinson has also accepted the role of Patron to the Chamber.
The meeting provided a unique forum for business and government leaders to discuss the latest updates within their industries and sectors. It also offered a chance to hear Ambassador-designate Robinson's perspective on ways to advance the Australia-Korea partnership.
The meeting concluded with an informal networking session, providing a perfect chance for new Embassy staff and Chamber personnel to interact and form connections. This session was particularly timely, considering the significant number of new appointees at the Australian Embassy.
The Chamber would like to thank the Ambassador-designate for his time and looks forward to working with him and his team.
AustCham Korea Secreteriet Supports Members at 2024 InterBattery Expo
On March 7th, representatives of AustCham Korea attended the 2024 InterBattery Expo at COEX Seoul to support its industry-related members.
The three-day conference, which showcased over 570 vendors and over 120,000 attendees, aimed to promote the advancement of battery technologies, including sustainable solutions, advanced materials, and efficient management systems.
Interbattery Expo offered AustCham Korea members a unique opportunity to connect with international leaders and innovators in the battery industry, underscoring our commitment to fostering global partnerships and innovation.
The Chamber was pleased to meet and support many of its members, including POSCO, Korea Zinc, SYSKIM, New Electric Partners and representatives from New South Wales, Queensland, and Western Australia governments.
Participating companies from our network showcased advancements that contributed to the industry's growth, focusing on energy efficiency, safety, and sustainability. InterBattery 2024 emphasized the importance of collaboration in driving technological progress and sustainability in the energy sector.
AustCham Korea Celebrates International Women's Day with Members
In celebration of International Women's Day, AustCham Korea asked its members to share their thoughts on this year's theme, "Inspire Inclusion." We would like to express our gratitude to all the members who participated and made it possible for us as a community to appreciate IWD together.
Thank you Ross Gregory(AustCham Korea), Mitchell Killen(Polymirae), Yoojin Kim(NSW Trade & Investment), Arnold Lee(AustCham Korea), Shelly Lee(AustCham Korea), Sunkyug Ella Park(Rio Tinto), Yoonjin Park(Austrade), Rowan Petz(AustCham Korea), and John Walker AM(Eastpoint Partners).
HRD Training Seminar with AustCham, FKCCI and AHK Korea
On Thursday, March 21st, 16 global business managers gathered at FKCCI to explore effective two-way communication within multicultural teams through a seminar organized by FKCCI in collaboration with Ahk Korea - Korean-German Chamber Of Commerce And Industry ???????and Australian Chamber of Commerce in Korea - ?? ???????.
Titled “How to lead and steer Korean Teams within a Multinational,” the seminar was conducted by Mr. Simon Bureau, CEO of Vectis, a seasoned coach with 35 years of expertise in international business and development, including 20 years in Korea. This HRD workshop helped expatriate managers better understand their Korean teams and implement effective communication methods within them.
Upcoming Events
[Upcoming Event] Big Aussie BBQ is BACK!!
We are delighted to invite you to our premium Sundowner networking night, 'Big Aussie BBQ,' at the Grand Hyatt Seoul on Friday, 26 April 2024.
The Big Aussie BBQ is your premier ticket to reignite the spark of effortless social business networking. Here, you can mingle with colleagues, forge new friendships, or connect with potential new clients!
Showcasing a premium Australian BBQ buffet, world-class wines, refreshing craft beers, and entertainment under the stars, this is one event you don't want to miss! Additionally, you could win a return flight to Australia courtesy of Singapore Airlines.
So why not end the week with great food, beverages, and friends?
Click here to register!
Seeking to promote your brand, company or product to a captive audience?
The Big Aussie BBQ is a golden opportunity for your brand to shine! As an event sponsor, you'll gain unparalleled brand visibility and the chance to connect directly with top-tier professionals and decision-makers. Last year's event was unforgettable, and this year's promises to be even better.
Sponsoring the Big Aussie BBQ means supporting a fantastic community event and positioning your brand in front of a dynamic and influential audience.
For sponsorship or ticketing enquiries, please contact Rowan Petz, [email protected]
New Members
AustCham Korea Welcomes SentBe as a Silver Member
AustCham Korea would like to welcome SentBe as its newest Silver Member.
SentBe is a global fintech company specializing in foreign exchange services. Its mission is to create ‘A World Without Financial Borders’. With lower fees, faster transfer speeds, and simpler processes, SentBe is a national market leader in international money transfer, enabling individuals and businesses to send money to over 50 countries.
Member News
Robert Walters Korea Honored with 2024 Happy Plus CSR Award for the Fifth Year Running
AustCham Korea would like to congratulate our Corporate Member, Robert Walters Korea, on receiving the 2024 Happy Plus CSR Awards for the fifth consecutive year.
On February 28, specialist professional recruitment firm Robert Walters Korea received the 2024 Happy Plus CSR Awards in Contribution to Job Creation Grand Prize for the fifth consecutive year. The award is co-organised by the Korea Enterprises Federation and the Association of Korean Journalists. It is sponsored by the Ministry of Economy & Finance, Ministry of Education, Ministry of Trade, Industry & Energy, Ministry of Health & Welfare, Ministry of Environment, Ministry of Employment & Labour, and the Ministry of Gender Equality & Family.
Robert Walters Korea received the award in recognition of creating jobs and leading exemplary CSR initiatives. Robert Walters Group has been committed to making a global impact through launching local activities, partnering with charities and non-profits, and fundraising for causes to transform communities and power people’s unique potential. Since 2017, the Group has worked with the Global Angels Foundation, an international development organisation, to support building a sustainable future for the Itinyi Valley community in Tsavo, Kenya, by building infrastructure and providing clean drinking water. Since 2012, the Group’s employees have supported local communities through the annual Global Charity Day by participating in fundraising activities to donate funds to chosen local charities. In 2023, Robert Walters Korea donated the funds raised to the Korea Childhood Leukemia Foundation and the Youth Happiness Foundation.
JunWon Choi, Country Manager at Robert Walters Korea, said: "We are honoured to receive the award for a fifth year in a row. With ESG at the core of our business, Robert Walters Korea will continue to power people’s potential, including our clients, candidates, our own people, and the wider community. We will remain committed to building transparent partnerships with our clients, candidates, and the community to help them reach their aims and ambitions."
Australian Strategic Materials Secures Up to $600M
Australian Strategic Materials (ASM) has announced receiving a Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) for a debt funding package valued at up to US$600M (A$923M). This funding package is intended for the construction and execution phase of the globally significant Dubbo Project, which focuses on rare earths and critical minerals. The receipt of the LoI is a significant advancement in ASM's funding strategy for the project. It underscores the recognition of the strong support and engagement from government bodies, investors, and industry groups in North America.
"The Dubbo Project is strategically positioned to foster the joint goal of Australia and the US to develop and ensure reliable, responsible, and secure global access to critical minerals," stated Rowena Smith, ASM's Managing Director and CEO, highlighting the project's potential impact on the critical minerals sector.
PERSOLKELLY Unveils White Paper on Transforming Leaders into Coaches
PERSOLKELLY is pleased to present a White Paper, which has been published by PERSOLKELLY Consulting and penned by Abhishek S., the Director of the Learning Academy at PERSOLKELLY Consulting India.
This document investigates the essential reasons for leaders to evolve into coaches. It brings to light statistical data from research surveys focused on 'performance management practices,' which interestingly show that a majority of leaders are still struggling with finding 'the perfect phrasing & pitch for 1-on-1 developmental conversations.' This situation leads to a critical inquiry: Who serves as the most suitable Coach for an employee? The answer points towards the leader.
This issue of the White Paper addresses the specific deficiencies that leaders often notice in an employee and delves into how various coaching formats can empower leaders to fulfill different developmental goals. This not only sets a higher standard for the employee but also transforms the leader from a 'manager' to a 'coach,' thereby preparing the enterprise for the future by enhancing organisational capability.
CBRE Holds Top Spot Globally and in Asia Pacific Across Major Property Types
AustCham Korea would like to congratulate our Silver Member CBRE on its milestone.
CBRE was the top-ranked firm for commercial real estate investment sales in Korea, Asia Pacific and globally during 2023, according to Morgan Stanley Capital International (MSCI) Real Assets. This marks the 13th consecutive year that CBRE has claimed the top spot globally and the 5th consecutive year in Korea.
CBRE held the top position across all major asset types in Korea in 2023, including office (32%), logistics (44%) and retail (50%). MSCI Real Assets credited CBRE with a market share of 36% across all property types in Korea in 2023—significantly higher than the number two firm. Particularly noteworthy is CBRE's achievement in the sale of the development site, capturing 97% market share. Their commitment to innovation and client value creation sets them apart, allowing them to uncover opportunities and perspectives beyond the ordinary.
UNSW Business School Global Business Practicum launching in Seoul
-under support of the NCP, AustCham Korea, Yonsei Business School
Do you want to connect and engage with the talent from UNSW Business School, the top-ranked Business School for career prospects and a top 20 Global University?
UNSW is inviting companies in Seoul to host 4~5 students for a four-week virtual project and two weeks of on-site professional experience in July- August 2024 as part of the UNSW Global Business Practicum Course.
The high-achieving students will act as a cross-disciplinary consulting team exploring solutions and generating creative ideas for some business challenges or projects important to your company.
This is a unique opportunity to enjoy fresh perspectives and new solutions to existing problems from our talented students, increase your brand awareness among the UNSW cohort and create a global talent pipeline directly into your organisation!
If you are interested in being a host and partnering with UNSW, please contact Shelly Lee, [email protected] by 20 April 2024. We look forward to hearing from you!
?
Hannuri Service Introduction
AustCham Korea would like to introduce our Small Business Member Hannuri.
For over a decade, HANNURI has served as a stepping stone for foreign investors to enter the Korean market and achieve success in their business ventures.
Hannuri's extensive experience in assisting with incorporating new companies in Korea. The firm has a dedicated team specialising in corporate law and company formation, ensuring that the process is conducted efficiently and fully complies with all local regulations and requirements.
Their services extend to include employment and payroll, accounting and tax filing, treasury, secretarial duties, and other necessary compliance aspects to ensure that you can continue with your daily operations smoothly.
Additionally, regarding the Korean tax system, we have provided free consulting for individuals. This would be beneficial for those who have assets in both Korea and Australia, aiding in tax planning and savings.
Contact Christine for more information.
Christine Lee
CPA, Consultant
T. +82-2-554-6489
News and Promotions
?
[External Event] The Fastmarkets Asian Battery Raw Materials Conference 2024
AustCham Korea would like to highlight an upcoming event of interest to our members: the Fastmarkets Asian Battery Raw Materials Conference 2024, taking place in Seoul on April 22-23.
This key conference will delve into policy, battery technology, and supply dynamics, attracting industry leaders across Asia. Distinguished AustCham members, including Kyungsub Lee from POSCO Holdings, Elizabeth Cox of The Australian Trade and Investment Commission, Ross Gregory from New Electric Partners, David Gartside from Milbank, and Tanya Moon from New Electric Partners & The Australian Chamber of Commerce in Korea, are set to attend.
With over 250 international delegates, the conference offers a prime opportunity for networking and insights into market trends and innovations.
Andaz Seoul Gangnam Introduces 'Andaz Hot Cross Buns' to Celebrate Easter
Andaz Seoul Gangnam, a luxury lifestyle hotel in Apgujeong, is part of the Hyatt Hotels & Resorts portfolio. To celebrate Easter, the hotel prepares homemade 'Andaz Hot Cross Buns'.
The Hot Cross Bun is a traditional Easter delicacy, known for its sweet taste and the characteristic cross symbol carved into the dough.
Andaz Hot Cross Buns feature a unique blend of flavours. Dried fruits and spices are mixed into a sweet dough, enhanced by orange peel, raisins, cinnamon powder, and cardamom powder. After undergoing low-temperature fermentation for a day, they develop a variety of flavours and textures.
A'+Z on the first floor offers a set of 4 buns for 7,500 Korean Won until March 31st.
For inquiries, please contact A'+Z at 02-2193-1193.
Andaz Seoul Gangnam Presents Innovative Andaz stAIk Sandwich,
Crafted with AI Chef Grill Robot
Andaz Seoul Gangnam, a luxury lifestyle hotel of the Hyatt Hotels & Resorts portfolio located in Apgujeong, presents the Andaz stAIk Sandwich, a menu crafted with the assistance of AI technology. This innovation marks the hotel's pioneering introduction of the AI Chef Grill Robot, known as "ANDI," which executes the chef's culinary techniques with precision.
The Andaz stAIk Sandwich boasts a tantalising combination of a juicy U.S. Prime beef sirloin steak atop crispy whole-grain bread, enhanced with caramelised onions and sun-dried tomatoes. Priced at KRW 38,000 for the sandwich alone, the set, which includes Berry Soft Ice Cream and a choice of Coffee or Tea, is available for KRW 45,000. This delectable creation can be savoured at Bites & Wine on the hotel's 2nd floor, and reservations can be conveniently made via phone.
Inquiries: Andaz Seoul Gangnam 02-2193-1191
Weet-bix is Now Available on Coupang
AustCham Korea Corporate Member, Sanitarium, now offers the beloved breakfast staple Weet-bix on Coupang.
A 1.2kg value pack is available for just 9,980 won, making it easier for fans in Korea to enjoy their favourite breakfast. This move by Sanitarium ensures that anyone missing their home comfort food can conveniently purchase Weet-bix in Korea, bringing a taste of home to their breakfast table.
Andaz Seoul Gangnam Unveils a Modern Korean Menu at Jogakbo Kitchen
Andaz Seoul Gangnam, a luxury lifestyle hotel of the Hyatt Hotels & Resorts portfolio located in Apgujeong, presents a diverse array of modern Korean dishes at 'Jogakbo Kitchen.'
For lunch, enjoy their lavish stone pot rice with a selection of side dishes, allowing you to personalise your meal with six seasonal toppings. In the evening, indulge in the sophistication of 'Juansang,' a thoughtfully curated traditional Korean set menu designed for delightful pairing with premium Korean beverages. Signature dishes such as Yukhoe (Korean beef tartare) and Galbi jjim (braised short ribs) elevate the dining experience.
Operating from 11:30 AM to 3:00 PM for lunch and 5:30 PM to 10:00 PM for dinner.
Inquiries: Andaz Seoul Gangnam 02-2193-1191
In the News
Almost 40% of Australia's Electricity is Supplied by Renewables
The Clean Energy Australia 2024 report highlights a significant surge in renewable energy, accounting for nearly 40% of Australia's electricity supply. There has also been a notable increase in utility-scale storage investment and rooftop solar installations.
Renewables, including solar and storage projects, have seen substantial growth, with renewables comprising 39.4% of the total generation in 2023—a jump from 17% in 2017. Investment in large-scale storage hit $4.9 billion, reflecting a massive increase from the previous year, and rooftop solar installations continued to rise, supporting over a third of Australian households and businesses. However, the sector faces challenges, such as a decline in large-scale generation project investments, particularly in wind energy, underscoring the need for continued policy support and investment to maintain momentum in Australia's clean energy transition.
POSCO International Secures $882 Million Supply Deal for U.S. and Europe
POSCO International Corp. has secured supply deals worth $882 million to provide rare earth permanent magnets for electric vehicles (EVs) in the U.S. and Europe, diversifying its EV parts sector away from Chinese dominance in raw materials.
The company's U.S. subsidiary signed a $721 million contract with a major North American automaker, with production starting in the first half of 2026 and extending until 2031. Additionally, a deal worth $208 million was made with a European luxury car brand through POSCO's German subsidiary, running from 2025 to 2034. These agreements mark a strategic shift in production to reduce reliance on China, with production responsibilities assigned to Sunglim Advanced Industrial Co. in Vietnam.
Australian Government Invests in Critical Minerals
In an opinion piece in The Australian (18 March 2024), Australian Prime Minister Anthony Albanese discussed the government's commitment to economic resilience through investing in critical minerals.
The Prime Minister announced that the government has pledged $840 million to support Australia's first combined rare earths mine and refinery in the Northern Territory and $230 million for the Kathleen Valley Lithium Project in Western Australia. These investments are aimed at creating jobs, enhancing Australia's renewable energy capabilities, and reinforcing the nation's role in the global supply of essential minerals.
Minister Tim Watts' Official Visit to the Republic of Korea
On 17th of March, Assistant Minister for Foreign Affairs, The Hon Tim Watts MP, announced that he is scheduled to travel to the Republic of Korea (ROK) on behalf of Australia to participate in the third Summit for Democracy.
The event aims to gather governments, civil society organisations, and academics to explore the theme of 'Democracy for Future Generations'. Discussions will focus on how to protect and reinforce democracy amid significant changes.
A special emphasis will be placed on artificial intelligence (AI) during the Summit, examining the substantial opportunities AI offers and addressing the challenges it poses to democratic rights, institutions, and governance.
The Summit will serve as a platform for further collaboration with international partners on cyber security and the combat against foreign interference and misinformation.
While in Seoul, the Assistant Minister plans to meet with ROK officials and regional partners to enhance discussions on collaborating towards an open, stable, and prosperous Indo-Pacific.
Share: