Australia and South Korea expand cooperation in critical minerals and high-tech industries

At the 47th joint meeting of the Korea-Australia Economic Cooperation Committee held in Adelaide, business and political leaders from both nations agreed to expand their partnership beyond traditional trade into high-tech sectors. The cooperation will focus on integrating critical mineral value chains, specifically combining Australia’s abundant mineral reserves with South Korea’s advanced smelting and processing technologies.

Key areas of discussion include secondary battery materials, steel, and renewable energy. Participants also committed to strengthening ties in advanced industries such as defense, space, artificial intelligence, and data centers. The joint statement emphasized the importance of stabilizing energy supply chains and fostering cooperation in decarbonization technologies, including hydrogen and carbon capture and storage (CCS).

POSCO Group Chairman Jang In-hwa, acting as the Korean chairman of the committee, proposed a strategic framework to utilize core minerals as a new growth axis for industrial cooperation. The meeting highlighted the complementary nature of the two economies: Australia’s significant production of lithium, nickel, cobalt, and rare earths supports South Korea’s leading position in battery and semiconductor manufacturing.