[Corridor Conversations] Ross Gregory

Corridor Conversations – Ross Gregory

Title: Partner – New Electric Partners | Chair of Board of Governors – AustCham Korea

Quote: “If you’re subtle and respectful of Korean culture, being foreign can have huge advantages.”

What role does your organisation play within the Australia-Korea space?

At New Electric Partners (NEP), we aim to stimulate trade between Australia and Korea in critical minerals and energy transition, in particular ammonia. As liquid hydrogen is difficult to ship, the preferred derivative carrier is ammonia. We are working on a couple of significant Australian hydrogen projects which will result in the export of ammonia from Australia to Korea so Korea can reduce their emissions by co-firing coal and gas fired power stations. 

There are also Korean carbon emitters looking for opportunities to export carbon to Australia for sequestration. Recently Australia amended its Sea Dumping Environment Legislation to establish a licensing regime to permit the storage of CO2 in sub-seabed geological formations. As both Korea and Australia are signatories to the London Protocol, all that remains is for a bilateral arrangement to be reached between the countries to facilitate offshore carbon storage. 

Increasingly, Australia and Korea are seeking to deepen bilateral relations. On the critical minerals front, Australia has the key minerals that go into batteries for electric vehicles and energy storage including lithium, nickel, graphite, and cobalt. Similarly Australia has significant rare earth reserves required to meet Korea’s needs for permanent magnets that power EV drivetrains, wind turbine and defence equipment manufactured by Korea. There are a whole raft of opportunities for Australia to join forced with Korea in establishing new energy and electric supply chains.

What is your advice for a first-time expat to Korea?

Learn Korean, if feasible. If you intend to be here for a considerable period of time, then learn Korean and start immediately. Korean is the window to understanding local culture and business practices. I would also join the Chamber, of course, then make yourself known to Austrade and DFAT. Get ready to navigate what can be an environment where documents need to be precisely in order, have all your papers ready – birth certificate, drivers licence, visa and so on. Finally, be prepared for extreme weather changes! Korea truly is a country with four seasons. And don’t forget the vegemite if that’s your thing.

What role has AustCham Korea played in helping you in Korea?

Networking with senior expats, which provides both work opportunities and a sense of community. It’s given me the opportunity to take on a leadership role which I’ve really enjoyed; it’s challenging, motivating and worthwhile. As Chair, I’ve taken the opportunity to implement some structural change and tried to inspire growth in line with the expanding Australia-Korea relationship. AustCham is a nice forum for meeting a broader range of people socially as well as establishing links with the Australian Government and trade organisations.

Where do you see the energy industry in five years?

In the hydrogen economy there is astronomical growth. Currently it’s virtually nascent and at the stage where projects are still pre-construction. In the next 5-10 years, we will see millions of tonnes of hydrogen produced annually in Australia. Much of which will be converted into derivatives such as ammonia and e-methane and then exported to countries like Korea and Japan to help them decarbonise. Hydrogen is a major actor in energy transition while CCS (carbon capture and storage) will also play a role. 

There will also be unstoppable growth in EV sales in the next ten years. Electrification is now an irreversible decision by the automotive industry and underscored by government legislation globally. Existing ICE OEMs must adapt or perish.

What common themes have you seen along successful expats moving to Korea?

There is a willingness to adapt to local business culture, usually a preparedness to work with and hire local staff. Successful expats also tend to keep an eye on Korean consumer trends and business approaches that are different from the West. Start with a clean sheet and figure out how business is done here and how Korean companies are structured. If local hierarchies and businesses norms are respected, adding an international aspect to business is taken well in Korea and a sort of East meets West compromise can occur. If you’re subtle and respectful of Korean culture, being foreign can have huge advantages. But walking in with a“my way or the highway” approach can lead to spectacular failure.

How has living in Korea changed from when you first arrived until now?

Korea has a more open society now. People are far more familiar with seeing foreigners so you can blend in seamlessly. Years ago, we were a bit of a novelty. Now, Western goods and services have been well accepted in Korea and it has become very international through things like the hallyu wave. Attitudes are a bit less conservative, people are getting married later and having fewer children – it is very common nowadays to see both partners working. There are also a lot more pampered pets – especially dogs. Koreans travel overseas regularly and have become more cosmopolitan.   

There’s a lot of things to do in a massive city like Seoul – what are your hobbies? What do you enjoy doing in your spare time?

Whenever I have spare time I like to get on the tennis court or go to CrossFit. Cycling and skiing in the appropriate seasons are also hobbies. Then of course there is Korean BBQ and bokbunja!

Where is your favourite place to eat in Seoul?

So many! But to pick just two, I’d say:

• Chez Laurent – it’s a nice little French spot in the back streets of Itaewon.
• Paul’s Bistro – a cosy European restaurant near craft beer alley in Kyungridan.

What is an Australian mannerism or slang that you’d like to introduce to the everyday Korean?

I’d introduce the word “reckon.” A very versatile expression!

What has been your favourite Korean phrase or word that you have learned?

The word “noonchi” (“눈치”) must be near the top. In Korea, if someone has quick noonchi it means that they are good at reading other people or sensing what the mood is and acting accordingly.

That’s a great suggestion – thanks for sitting down and talking with us, Ross!