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Queensland-Korea relationship strengthens over decades

Nov. 30, 2021 - 14:11 By Sanjay Kumar
From left: Trade and Investment Queensland Commissioner for Korea Ryan Freer, Australian Ambassador to Korea Catherine Raper and Gyeonggi provincial government Ambassador Kim Young-jun. (Trade and Investment Queensland)
The Australian state of Queensland marked the 20th anniversary of the establishment of its office in Seoul with an official reception on Nov. 24.

The reception was attended by Australian Ambassador to Korea Catherine Raper, the Gyeonggi provincial government ambassador, Kim Young-jun, and over 50 dignitaries and members of the local business community, at the Millennium Hilton Seoul. 

Cameron Dick, Queensland’s treasurer and minister for trade and investment, said Korea and Queensland have an important trade and investment relationship, as well as “true friendship.”

“The significant foundation of this was Queensland being the first Australian state to open a trade office in Korea,” said Dick, who delivered a keynote address via video.

Korea’s direct investment in Australia was valued at $8 billion in 2020, an increase from $281 million invested 20 ago, according to data from the Queensland government.

“Korea is a global leader in research and development, digital displays, electronics and semiconductors and is home to global brands Samsung, LG and POSCO,” the Queensland government said in a press statement.

The press statement acknowledged robust Korean investment into Queensland in areas such as renewable energy, mineral resources, food and agribusiness, and property development, citing strong upstream investment from Lotte International in Sandalwood feedlot and CheilJedang in the CJ Nutracon meat processing plant in Queensland.

Trade and Investment Queensland Commissioner for Korea Ryan Freer said that the 20 years of strong trade and investment ties based on shared values, trust and mutual respect between Queensland and Korea will continue.

Trade and Investment Queensland is the Queensland government’s dedicated global business agency assisting exporters and promoting Queensland to investors.

“Our goal is to continue strengthening and growing Queensland’s trade and investment relationship with Korea, creating win-win opportunities to advance and build industry capability, adding value to both economies,” Freer said.

Separately, the Queensland government also highlighted in its statement of the upcoming 2032 Olympic and Paralympic Games, which Brisbane, Queensland’s capital, will host.

“Trade and Investment Queensland will lead the international trade and investment program as part of the Brisbane 2032 Olympic and Paralympic Games, which will showcase Queensland’s investment and export opportunities to the world,” the statement read.