The Australian Chamber of Commerce in Korea co-hosts Business Luncheon for the Australian Federal Minister for Climate Change and Energy, the Hon Chris Bowen MP
On Monday, July 24, the Australian Chamber of Commerce in Korea (AustCham Korea) co-hosted a Business Luncheon with the Australian Embassy for the Australian Federal Minister for Climate Change and Energy, the Hon Chris Bowen MP, at the Four Seasons Hotel Seoul.
The purpose of the Minister’s visit to the Republic of Korea was to highlight Australia’s commitment to ambitious climate action and leveraging Australia’s renewable resources to remain a stable and trusted supplier of energy to it’s partners through the global transformation to net zero. The visit also aimed to emphasise Australia’s ambition to become a renewable energy superpower and build new renewable industries to support domestic and global decarbonisation efforts and economic opportunity.
“To be frank, it’s too late to avoid the climate emergency,” Minister Bowen said in his speech to those attending the event. “But it’s not too late to avoid the worst of the climate emergency, if we act swiftly.”
The Australia Chamber of Commerce in Korea Chairman and Business Luncheon emcee, Mr Ross Gregory, emphasised the strong connection between Australia and Korea, whilst imploring the need for a higher level of commitment from the two countries.
“There is a tremendous opportunity for Korea and Australia to capitalise on the special circumstances that have emerged to strengthen and deepen their trading relationship. This is the case with critical minerals where not only can Australia export raw materials to Korea for processing but the countries can collaborate to set up joint-venture processing hubs in Australia.”
He continued, “But at times it feels like we are still at the dating stage. As far as foreign direct investment in Australia goes, Korea doesn’t rank in the top ten. Australia in turn has sent some mixed signals when it comes to licensing and incentives, while the USA and Europe have opened the flood gates. I really hope that discussions at the highest level of Government can help resolve these imbalances and propel the Korea-Australia strategic trade relationship towards its full potential. While time is of the essence, the planets are well aligned for the partnership to go from strength to strength.”
A special thanks to Hurex Trade for providing the refreshing Nippy’s juice.
As the peak body representing the Australia-Korea business community, the Australian Chamber of Commerce in Korea continues to work as a conduit between the government and corporate sector, leveraging exciting new opportunities for trade and investment.
