POSCO chief spearheads enhancing Korea-Australia economic ties

POSCO Chairman Chang In-hwa (right) and AKBC Chairman Martin Ferguson pose for a photo at the 45th Korea-Australia Economic Cooperation Meeting in Perth. [Courtesy of POSCO Group]

POSCO Group Chairman Chang In-hwa attended the 45th meeting between the Korea-Australia Business Council (KABC) and the Australia-Korea Business Council (AKBC) in Perth, Australia, on Monday, in his capacity as the chairman of the KABC. South Korean steel giant

Australia is a key supplier of resources for South Korea’s steel and secondary battery materials industries. Around 250 officials from both the political and business circles of the two countries attended the joint meeting, which began in 1979 and is opening its 45th session in 2024, according to industry sources.

This year’s event was particularly significant as it coincided with the 10th anniversary of the Korea-Australia Free Trade Agreement (KAFTA), fostering a shared understanding among business leaders from both nations for a continuous close cooperation.

Representing Korea were Chang, Trade Minister Cheong In-kyo, newly appointed Ambassador to Australia Sim Seung-seob, and Kim Chang-beom, vice chairman of the Federation of Korean Industries (FKI), along with officials from companies including GS Engineering and Construction Corp. and LX International Corp.