Lee, Albanese vow broader partnership, economic ties

South Korean President Lee Jae Myung (right) and Australian Prime Minister Anthony Albanese shake hands at their summit in Gyeongju, North Gyeongsang Province, Thursday. (Joint Press Corps via Yonhap)

South Korean President Lee Jae Myung and Australian Prime Minister Anthony Albanese on Thursday reaffirmed their commitment to deepening bilateral relations, underscoring the long-standing friendship between the two nations.

During the summit, held on the sidelines of the Asia-Pacific Economic Cooperation meetings in Gyeongju, North Gyeongsang Province, Lee said he expects the two countries to expand cooperation across a broad range of areas amid “an increasingly complex global environment.”

In particular, Lee expressed gratitude for Australia’s contribution during the 1950–53 Korean War. As part of the UN Command, Australia dispatched more than 17,000 troops to help defend South Korea, constituting one of the largest foreign contingents.

“At the UN Memorial Cemetery in Busan, Australian soldiers who fought for Korea’s freedom and democracy are still laid to rest,” Lee said. “The Korean people have never forgotten Australia’s special support that enabled us to survive as part of the free democratic world.”

Lee added that South Korea “will continue to work actively toward building a new and greater partnership” with Australia.

Before the meeting began, Lee referred to Albanese as a “close friend,” noting that the two have met frequently. Albanese echoed the sentiment.

“You began your comments by saying that we are seeing a lot of each other — and indeed we should, because Korea and Australia are great friends,” Albanese said.

The Australian leader also highlighted the two countries’ close economic ties, particularly in the minerals and resources sector.

“I traveled to see firsthand the operations of Posco, one of Australia’s largest commercial partners, which received about 18 billion (Australian) dollars' ($11.8 billion) worth of exports from Australia last year,” he said. “Together, we are also partnering in research and development for the creation of green steel.”

Earlier in the day, Albanese visited Posco’s steel plant in Pohang, North Gyeongsang Province. According to the company, its imports from Australia include iron ore, coal and nickel.

The previous day, the Australian prime minister visited the UN Memorial Cemetery in Busan to pay his respects to Australian soldiers who fought in the Korean War.

Thursday’s meeting came about four months after the two leaders last met in Canada on the sidelines of the G7 summit, where they agreed to further develop bilateral ties into a future-oriented relationship and strengthen cooperation on North Korea’s nuclear issues.