Australia-Korea Business Council

📢 𝗡𝗘𝗪𝗦 📢

BP has entered into an agreement to dilute a 5% interest in the Browse project in Western Australia to South Korea’s GS Energy, with BP retaining a 39.33% working interest. The transaction marks GS Energy’s entry into one of Australia’s largest undeveloped gas projects.

The proposed Browse to North West Shelf (NWS) Project involves producing gas from Browse — Australia’s largest undeveloped offshore gas resource — and processing it at the NWS Project’s Karratha Gas Plant. BP and its partners continue to see long-term value in the project, including its role in supporting energy security in Australia and the wider region.

Korean media have reported GS Energy’s acquisition as participation in a major LNG development project in Western Australia valued at approximately A$48.7 billion, highlighting Korea’s continued interest in Australia’s energy sector and long-term LNG supply.

Other major participants in this project include Woodside, MIMI/Japan Australia LNG and PetroChina.

Why this matters:
🔹Energy remains a key pillar of the Australia–Korea economic relationship
🔹Korean investment continues to support major Australian energy projects and long-term regional energy security
🔹Browse is one of the most significant LNG developments in the Asia-Pacific region and could play an important role in future energy supply
🔹Australia and Korea’s energy and economic security are interdependent.

Read more below 👉
https://www.bp.com/en_au/australia/home/media/press-releases/update-on-bps-interest-in-Browse.html
https://v.daum.net/v/20260602170509567

📩 Follow us, or sign up for our monthly eNewsletter to stay up-to-date on news in the Australia-Korea corridor 👉 https://akbc.glueup.com/org/akbc/subscriptions/

📢 NEW SPEAKERS ANNOUNCED 📢

We are pleased to announce additional speakers for the 7th Australia–Korea New Energy Forum, taking place on Monday, 15 June 2026, in Perth.⁠
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⁠Under the theme ‘A Future Made in Australia: From shared vision to joint action with Korea in the new energy era', the New Energy Forum will focus on building partnerships that translate shared ambition into practical outcomes aligned with Australia’s Future Made in Australia agenda. ⁠

🎤 Andrew Decet, Head of Corporate Affairs. Business Development and Commercial and Technical Energy Development, Woodside Energy
🎤 Dr Paul Grimes PSM, Chief Executive Officer, Austrade
🎤 Wenona Hadingham, Executive Director, Planning, Analysis and Decarbonisation Policy, Energy Policy WA, Department of Energy and Economic Diversification
🎤 Simone Spencer, Deputy Director General, Strategy, Performance and International Engagement, WA Department of Energy and Economic Diversification

Want to see the full speaker lineup? Visit our website 👉 https://www.akbc.com.au/events

Event Details:
📅 Date: Monday 15 June 2026
🕒 Time: 3:00 PM AWST for a 3:30 PM AWST start, concluding at 6:00 PM AWST
📍 Location: Perth CBD, Western Australia

Tickets include attendance at the New Energy Forum and the facilitated networking reception. Due to limited capacity, attendance is capped at two representatives per company.

Register now 👉 https://lnkd.in/gimgUv_h

We extend our sincere thanks to our partners and supporters, including Invest and Trade Western Australia, Low Emission Technology Australia, Woodside Energy, InterContinental Energy and Harmony Agriculture & Food Company.

We look forward to welcoming you to Perth!

What a fantastic night in Brisbane!⁠
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The AKBC Member Meet-Up, hosted in conjunction with POSCO International and Senex Energy, brought together members and guests from across the Australia–Korea business community for an evening of valuable conversations, new connections and relationship building. 🇦🇺🇰🇷⁠
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We were delighted to partner with POSCO International and Senex Energy to deliver the event and provide members with the opportunity to engage with leaders from across the bilateral network.⁠
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A special acknowledgement to those who shared remarks and insights throughout the evening:⁠
🔹 Daniel Kim, AKBC Board Member and CEO, Revera Energy⁠
🔹 Darren Stevenson, CEO, Senex Energy⁠
🔹 Yumi Han, Chief Representative, POSCO International Corp., Senex Holdings, and Managing Director, POSCO International Corp., Brisbane⁠
🔹 Mr. Seong-Yeon Kim, Consul General of the Republic of Korea in Brisbane⁠
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Their contributions reinforced the strength of the Australia–Korea relationship and the importance of ongoing collaboration across the energy sector and wider business community.⁠
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It was wonderful to see such strong engagement from AKBC members and stakeholders.⁠
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The Member Meet-Up series will continue in cities across Australia, and we look forward to welcoming many of you at future events.⁠
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📩 Interested in hosting the AKBC Member Meet Up at your office next year? Reach out to us and send us an email to [email protected]. ⁠
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Want to know what it's like to be an AKBC member? Register to the next AKBC Member Quarterly Update online 👉 https://akbc.glueup.com/event/akbc-member-quarterly-update-3-178507/

Thank you to everyone who joined us in Adelaide for the South Australia–Korea Business Roundtable and Unlocking Opportunity: The Value of Engaging with the Australia–Korea Business Council and the Joint Meeting. 🇦🇺🇰🇷

On Friday, 8 May 2026, we convened our members and stakeholders at Invest South Australia, for a South Australia–Korea Business Roundtable that brought together members and stakeholders with the AKBC Board to discuss strategic priorities and opportunities across the South Australia–Korea corridor.

The afternoon program focused on the practical value of engaging with AKBC and participating in the Joint Meeting. This included an overview of AKBC’s work to support members, followed by a panel discussion exploring how the Joint Meeting provides access to senior decision-makers, market insights, and partnership opportunities.

We acknowledge Minister Lawrence Ben MP for attending and sharing his insights, and Invest South Australia for hosting the event. The day concluded with networking over drinks, providing an opportunity to continue conversations in a more informal setting.

A special thank you to KimchiClub for supporting the event with a selection of kimchi, adding a Korean touch to the networking experience. ✨

Thank you to all AKBC Members and stakeholders who contributed to a thoughtful and engaging discussion.

Want to maximise your opportunities at the 47th AKBC-KABC Joint Meeting? Contact Belinda Altadonna, Head of Strategic Partnerships and Events at [email protected] or download the Partnership Prospectus below 👇
https://www.akbc.com.au/node/859

The Australia-Korea Business Council (AKBC) welcomes the announcement that Low Emission Technology Australia (LETA) will provide A$1 million in co-funding for a world first South Korean project that captures CO2 from a coal-fired power station and converts it into high value materials used in EV batteries and semiconductors.

The “Coal2Carbon” initiative, led by Korean energy company SGC Energy in Gunsan, represents an important example of how Australia and Korea can work together to accelerate industrial decarbonisation while also supporting emerging critical minerals and advanced manufacturing supply chains.

The project aims to convert captured CO2 into carbon nanotubes and graphite, materials increasingly critical to next generation lithium ion batteries, semiconductors and advanced technologies. If successfully commercialised at scale, initiatives like this have the potential to transform how industries think about carbon, not simply as an emissions challenge, but as a future industrial input.

This announcement also highlights the growing strategic alignment between Australia and Korea across clean energy, critical minerals, battery value chains and low emissions technology development. As both countries continue to pursue industrial decarbonisation and economic resilience, bilateral collaboration in commercially scalable technologies will become increasingly important.

AKBC continues to support stronger Australia-Korea partnerships across clean energy, advanced manufacturing, CCS, critical minerals and future focused industrial technologies that strengthen long term bilateral economic cooperation.

We congratulate LETA, SGC Energy and all project partners on this innovative initiative and look forward to seeing further Australia-Korea collaboration in next generation low emissions technologies.

Read more here: https://letaustralia.com.au/media-releases/australian-coal-industry-backs-world-first-korean-project-turning-co2-into-ev-battery-materials/

📅 Plan ahead for June: Korean public holidays 📅 ⁠ ⁠ ⁠
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June includes two public holidays in Korea, both of which can affect business operations and scheduling.⁠
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🔹3 June – Local Election Day ⁠(지방선거일) South Korea conducts nationwide local elections to choose mayors, governors, and thousands of local councillors across the country. Election Day is a public holiday, resulting in most businesses and schools being closed.⁠
🔹6 June – Memorial Day (현충일) Memorial Day is a significant national day of remembrance in Korea, honouring those who gave their lives in the service of the nation.⁠
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To our Australian stakeholders, expect reduced availability on these dates, particularly for government offices and public institutions. We recommend planning meetings around these holidays and allowing flexibility in response times. ⁠
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📩 To learn more about Korean conglomerates - Chaebol, join our online training session next Wednesday, on 24 June.
Register here 👇 https://akbc.glueup.com/event/all-about-korean-conglomerates-chaebol-179188/

📢 EVENT 📢
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The AKBC, in collaboration with the Embassy of the Republic of Korea is proud to present the 7th Australia–Korea New Energy Forum taking place on Monday 15 June 2026 in Perth. ⁠

Under the theme 'A Future Made in Australia: From shared vision to joint action with Korea in the new energy era', the New Energy Forum will focus on building partnerships that translate shared ambition into practical outcomes aligned with Australia's Future Made in Australia agenda.
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Why attend?⁠
⚡ Connect with senior leaders across the energy industry and government in a single forum⁠
⚡ Gain the latest insights on Australia–Korea energy cooperation, including policy, investment and project development trends⁠
⚡ Engage directly with the Korea Overseas Infrastructure and Urban Development Corporation (KIND) representatives and explore collaboration opportunities⁠
⚡ Learn from real-world case studies led by organisations across the Australia–Korea energy sector⁠
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We are pleased to share our confirmed speaker lineup 👇⁠
🎤 Hon. Martin Ferguson AM, Chair, Australia–Korea Business Council⁠
🎤 Jimin Kim, Chargé d'Affaires a.i., Embassy of the Republic of Korea in Australia⁠
🎤 Andrew Decet, Head of Corporate Affairs, Woodside Energy
🎤 Liz Griffin, CEO, Australia–Korea Business Council⁠
🎤 Isaac Hinton, Head of Australia, InterContinental Energy⁠
🎤 Chris Soeung Kim, Director, Project Development Division, KIND⁠
🎤 Minjae Kim, Managing Director, POSCO International Sydney Office⁠
🎤 Andrew Nicholls, General Manager CCS, Woodside Energy⁠
🎤 Benn Wheeler, Director Business Development, LETA⁠
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Event Details:⁠
📅 Date: Monday 15 June 2026⁠
🕒 Time: 3:00PM AWST for a 3:30PM AWST start, concluding at 6:00PM AWST⁠
📍 Location: Perth CBD, Western Australia⁠
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Tickets include New Energy Forum attendance and the facilitated networking reception.⁠ Due to limited capacity, attendance is capped at two representatives per company.
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Register now 👉 https://akbc.glueup.com/event/7th-australia-korea-new-energy-forum-176107/
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We extend our sincere thanks to our partners and supporters including Invest & Trade WA, Low Emission Technology Australia, Woodside Energy, InterContinental Energy and Harmony Agriculture & Food Co. for helping deliver this important platform for Australia–Korea collaboration through industry dialogue, connection and a memorable delegate experience.⁠ ⁠

We look forward to welcoming you to Perth for an afternoon of insights, discussion and connection.⁠
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The Australia-Korea Business Council (AKBC) welcomes the announcement that Low Emission Technology Australia (LETA) will invest A$3.48 million in partnership with POSCO’s N.EX.T Hub to accelerate carbon capture technology development at the Pohang Steelworks in Korea, one of the world’s largest integrated steel plants.

This initiative represents another important milestone in the Australia-Korea clean energy and industrial decarbonisation partnership, demonstrating the practical collaboration taking place between Australian industry and Korea’s globally significant manufacturing sector.

As Australia’s single largest export customer and one of the world’s leading steelmakers, POSCO plays a critical role in the bilateral economic relationship. Supporting technologies that reduce emissions from existing steelmaking processes while maintaining industrial competitiveness is essential to both countries’ long term economic and decarbonisation objectives.

Over the past two years, AKBC has played an instrumental role in supporting engagement between LETA and POSCO by helping connect the right stakeholders across industry and facilitating dialogue that contributed to enabling this collaboration. This outcome reflects the importance of trusted bilateral relationships and long-term engagement in advancing commercially meaningful Australia-Korea partnerships.

AKBC remains committed to strengthening collaboration between Australian and Korean industry leaders across decarbonisation, carbon capture and storage, hydrogen, critical minerals and advanced manufacturing.

We congratulate LETA and POSCO on this important initiative and look forward to seeing further Australia-Korea collaboration accelerate across the clean energy and industrial transformation sectors.

Read more: https://letaustralia.com.au/media-releases/leta-commits-3-48m-to-accelerate-carbon-capture-at-poscos-pohang-steelworks/

📢 APPLICATIONS OPEN 📢
Applications are now open for CSIRO’s Innovate to Grow: Agrifood and Agtech (I2G WA) program, a free, 8 week learning program supporting Western Australian businesses to explore how research and development can advance early-stage projects and ideas.

Delivered in partnership with the WA Department of Primary Industries and Regional Development (DPIRD), the free eight-week program helps businesses assess commercial and technical feasibility, strengthen innovation capability, and connect with relevant research expertise.

The initiative is open to SMEs across sectors including food and beverage manufacturing, agritech and AI, livestock and aquaculture, waste optimisation, recycling, and circular economy solutions. Participants will gain support to evaluate and develop early-stage ideas, strengthen R&D capability, and connect with industry and research networks. The program will conclude with an in-person networking session hosted by DPIRD, CSIRO, and the Food Innovation Precinct Western Australia (FIPWA).

💡 Why this matters:
🔹 Agrifood and Agtech continue to emerge as key innovation sectors across Australia, with growing opportunities in sustainability, AI, and advanced manufacturing
🔹 Programs like this help strengthen research capability and support collaboration between industry, government, and innovation partners

Applications close on Sunday, 31 May 2026. For more information, check the link below 👇
https://www.csiro.au/en/work-with-us/funding-programs/SME/Innovate-to-Grow/Agrifood-WA

📩 Did you know Food and Agriculture is one of AKBC's Priority Sector? Email [email protected] or check our website to find out more about how you can participate in AKBC Priority Sector activities. ⁠https://akbc.com.au/akbc-priority-sectors
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📢 EVENT 📢

Brisbane, we’d love to see you at our next AKBC Member Meet-Up, our first gathering in Brisbane for 2026. 🙌

Join us for an evening of networking and conversation with our AKBC members, and stakeholders of the Australia-Korea business community. This relaxed after-work event is designed to bring together professionals connected to the Australia-Korea corridor, offering a valuable opportunity to reconnect with existing contacts, meet new industry peers, and strengthen relationships across sectors.

If you are working within a Korean company in Australia, engaged in the Australia-Korea business relationship, or collaborate regularly with Korean partners or stakeholders, this event provides a relevant and accessible forum to expand your network and exchange insights.

We are grateful to AKBC members, Senex Energy and POSCO International for hosting this event, a fitting setting given their contributions to the Australia-Korea energy partnership.

Event details:
📅 Date: Wednesday, 3 June 2026, 5.00 PM – 7.00 PM AEST
📍 Location: Senex Energy, Level 13, 70 Eagle Street, Brisbane
💡 Price: FREE for AKBC Members | $30 + GST for non-members

Don’t miss out, places are limited, with registration closing COB Friday, 29 May 2026.

Secure your spot 👉 https://akbc.glueup.com/event/2026-akbc-member-meet-up-in-brisbane-179533/