April 2024 Report
AustCham Korea
Welcome to AustCham Korea, the peak body representing Australian and Korean business interests
AustCham Korea Hosts Big Aussie BBQ
Last Friday, nearly 300 guests joined us at the Grand Hyatt Seoul for our largest-ever Big Aussie BBQ, and what an unforgettable evening it was! Due to the overwhelming interest, we doubled our attendance from last year, selling out completely!
Set against the stunning backdrop of Seoul’s skyline by the pool, the night was filled with the iconic tunes of Aussie rock from the 80s and 90s. The event kicked off with welcome speeches from the newly appointed Australian Ambassador, Mr. Jeff Robinson, and AustCham Executive Director, Rowan Petz. Their messages highlighted the thriving Australia-Korea partnership and the importance of business and social networking.
With a focus on indulging in the finest Australian flavours, guests were treated to a premium Australian wagyu beef and lamb bbq, alongside a sumptuous buffet, carefully curated by the Hyatt catering team. Drinks flowed with top-shelf Australian wines, Coopers beer, MGC negronis, Dancing Ciders, and Bundaberg brewed drinks, making for a lively evening of business networking and gastronomic delight.
A huge thank you to our sponsors Darling Downs (AACo), Pilot Energy, Sentbe, and Mia Trading (Coles lamb) for their incredible support. Additional thanks to Accolade Wines, Grant Burge, Hardy’s, Melbourne Gin Company, Dancing Cider, Coopers, Bundaberg, Grand Hyatt Seoul, Andaz Seoul Gangnam, Singapore Airlines, Boksoondoga, Sanitarium and all our volunteers for all their support.
AustCham Participates the 73rd Anniversary of the Battle of Gapyeong
On Wednesday, April 24, AustCham Korea solemnly commemorated the 73rd anniversary of the Battle of Gapyeong with a ceremony held at the Australian Memorial in Gapyeong. This event honoured the valour of the soldiers from Australia and New Zealand who, alongside their allies, played a pivotal role during the Korean War in the battle fought from April 23 to 25, 1951.
Distinguished guests, including the Australian Ambassador-designate, Mr Jeff Robinson, the New Zealand Ambassador, H.E Dawn Bennet, and the Australian Defence Attaché Group Captain Byron Reynolds, paid tribute to the unity and courage displayed by the forces in defending the Gapyong River valley.
In a gesture of their continued support and remembrance, representatives from the Australian Chamber of Commerce in Korea also awarded educational scholarships to local middle and high school students from the Gapyeong area. This initiative was made possible through the generous contributions of AustCham’s Platinum Members—Eastpoint Partners, Investment NSW, Milbank, and POSCO—and Gold Members including IFM Investors, Pepper Savings Bank, Macquarie Group, ANZ Bank, Pilot Energy and Woodside Energy.
AustCham Korea extends a special thanks to John Walker AM, who made a significant contribution towards the educational scholarship fund, reinforcing the commitment to fostering future generations and strengthening community ties through education.
Photo Credit: Australian Embassy
2024 ANZAC Day Dawn Service
On Thursday, April 25, AustCham Korea honoured the legacy of Australian and New Zealand soldiers at the annual ANZAC Day Dawn Service held at the War Memorial of Korea. This solemn gathering was a tribute to the valour and sacrifices of the ANZAC troops, with the Chamber hosting a special wreath-laying ceremony at the Australian monument in the Role of Honour hall.
ANZAC Day commemorates the military alliance of the First Australian Imperial Force and New Zealand Army troops, who first landed on Turkey’s Gallipoli Peninsula at dawn on April 25, 1915, during World War I. This day marks a pivotal moment in both nations' histories, symbolizing the courage and sacrifice of those who fought.
For further details about ANZAC Day and its historical significance, visit anzacday.org.au.
Photo credit: Australian Embassy
AustCham Korea Engages in FSS SPEAKS 2024
On the 28th of March, Rowan Petz, the Executive Director of the Australian Chamber of Commerce, attended FSS SPEAKS 2024.
At FSS SPEAKS 2024, Financial Supervisory Service (FSS) Governor Lee Bok-hyun vowed to make Korea more attractive for investments by ensuring a fair financial market and penalizing illegal activities. Speaking in Seoul, Lee highlighted the FSS's commitment to a sound financial environment and support for the Corporate Value-up Program to reduce the Korea discount by improving transparency and prioritizing shareholder returns. He also pledged flexibility in addressing regulations hindering financial companies, emphasizing removing unnecessary rules to foster innovation while maintaining strict penalties against unfair practices. The event, attended by international dignitaries and financial representatives, encouraged collaboration and a better understanding of Korea's financial policies.
AustCham Korea Hosts CSR Initiative at Seoul Senior Welfare Center
On April 19th, AustCham Korea proudly hosted a Corporate Social Responsibility (CSR) activity at the Seoul Senior Welfare Center near Anguk Station. With support from the Tasmania Trade Office Korea, Polymirae and the Grand Hyatt Seoul, AustCham CSR volunteers rolled up their sleeves to serve lunch to over 800 elderly and vulnerable community members.
A special shoutout to Jean Ough, Caroline Killeen, Harry Lee and the catering team at the Grand Hyatt Seoul for baking and delivering 850 homemade muffins that brought smiles all around!
If your organisation is seeking to participate in an AustCham Korea CSR activity, please be sure to reach out to us via membership@austchamkorea.org
Upcoming Events
ERM Korea Webinar
New PFAS requirements are creating disruptions and uncertainties for businesses across the globe. As product compliance and disclosure regulations for manufacturers are ratcheting up, organizations should determine their PFAS risk(s) throughout their supply and value chains and gauge the total liability they may incur. This webinar will give participants an overview of emerging regulations and the actions they may be required to take to maintain market access.
Event Details
Please register here and you will receive a confirmation email containing participation instructions.
The deadline for seminar participation is 6:00 PM on May 17, 2024.
For any inquiries, please contact Marketing Manager Gyubin Lee at gyubin.lee@erm.com.
Member News
Meat & Livestock Australia (MLA) has announced Michael Crowley will be its next Managing Director.
Robert Walters Korea Unveils a New Referral Campaign
Robert Walters Korea, a specialist professional recruitment firm, launched a new Referral Campaign on 17 April.
Refer a friend seeking new career opportunities to Robert Walters Korea. If the friend you referred finds a job through Robert Walters Korea within 6 months of registering, you will receive a voucher worth ￦1,000,000. You will also have the chance to win a 5-star Resort Voucher worth ￦1,000,000, granted to one referrer per year!
With a core mission of ‘powering people and organisations to fulfil their unique potential’, Robert Walters partners with both clients and candidates, offering high-quality candidates to our clients and a role where our candidates can fulfil their career aims and ambitions.
Robert Walters Korea will provide support for building fulfilling careers both now and in the future.
Grand Hyatt Seoul Donated Muffins for Community Support
Grand Hyatt Seoul partnered with AustCham Korea by donating 850 homemade muffins to support a Soup Kitchen event on April 19th.
Hyatt Hotels supports communities worldwide through volunteerism and charitable giving all year round, a testament to the collective spirit of the organization. The impact of these efforts is especially magnified during the Global Month of Service (GMOS), when Hyatt colleagues worldwide unite to give back locally, addressing the most pressing needs in their communities. This is a collective effort that brings pride to everyone involved.
In this spirit, Grand Hyatt Seoul launched a transformative wellness campaign, #SmallStepsEveryday, intertwined with its CSR/ESG initiatives. The campaign began with a two-week Donation Run from April 8 to 21, 2024, where team members raised over 9,500,000 KRW through various wellness activities. The funds raised are earmarked to support scholarships for underprivileged students, demonstrating the impact of their united efforts. Additionally, Grand Hyatt Seoul extended hospitality to single-parent families, offering them a chance to experience the hotel's luxury facilities and participate in a healing yoga session in the waterfall garden, creating memorable experiences for them.
Moreover, Grand Hyatt Seoul partnered with AustCham Korea by donating 850 homemade muffins to support a Soup Kitchen event on April 19th. These muffins were served as desserts at the Seoul Senior Welfare Center event, adding a sweet touch to the meals provided to the underprivileged.
Through May, Grand Hyatt Seoul plans to continue its engagement with the community through various activities. These include cleaning up children's parks and facilities for the disabled in Yongsan, donating unused items and clothing to the underprivileged, walking rescue dogs, and providing snacks to local firefighters in Yongsan-gu, all aimed at giving back positive energy to the community.
With a commitment to both caring for the planet and its people, Grand Hyatt Seoul is determined to continue taking small steps that lead to significant impacts as part of its ongoing corporate social responsibility efforts.
UNSW Business School Global Business Practicum launching in Seoul -under support of the NCP, AustCham Korea, Yonsei Business School
Do you want to connect and engage with the talent from UNSW Business School, the top-ranked Business School for career prospects and a top 20 Global University?
UNSW is inviting companies in Seoul to host 4~5 students for a four-week virtual project and two weeks of on-site professional experience in July- August 2024 as part of the UNSW Global Business Practicum Course.
The high-achieving students will act as a cross-disciplinary consulting team exploring solutions and generating creative ideas for some business challenges or projects important to your company.
This is a unique opportunity to enjoy fresh perspectives and new solutions to existing problems from our talented students, increase your brand awareness among the UNSW cohort and create a global talent pipeline directly into your organisation!
If you are interested in being a host and partnering with UNSW, please contact Shelly Lee, shelly.lee@austchamkorea.org by 20 April 2024. We look forward to hearing from you!
Recommended by LinkedIn
Hannuri Service Introduction
AustCham Korea would like to introduce our Small Business Member Hannuri.
For over a decade, HANNURI has served as a stepping stone for foreign investors to enter the Korean market and achieve success in their business ventures.
Hannuri's extensive experience in assisting with incorporating new companies in Korea. The firm has a dedicated team specialising in corporate law and company formation, ensuring that the process is conducted efficiently and fully complies with all local regulations and requirements.
Their services extend to include employment and payroll, accounting and tax filing, treasury, secretarial duties, and other necessary compliance aspects to ensure that you can continue with your daily operations smoothly.
Additionally, regarding the Korean tax system, we have provided free consulting for individuals. This would be beneficial for those who have assets in both Korea and Australia, aiding in tax planning and savings.
Contact Christine for more information.
Christine Lee
CPA, Consultant
T. +82-2-554-6489
News and Promotions
Weet-bix is Now Available on Coupang
AustCham Korea Corporate Member, Sanitarium, now offers the beloved breakfast staple Weet-bix on Coupang.
A 1.2kg value pack is available for just 9,980 won, making it easier for fans in Korea to enjoy their favourite breakfast. This move by Sanitarium ensures that anyone missing their home comfort food can conveniently purchase Weet-bix in Korea, bringing a taste of home to their breakfast table.
Andaz Seoul Gangnam Unveils a Modern Korean Menu at Jogakbo Kitchen
Andaz Seoul Gangnam, a luxury lifestyle hotel of the Hyatt Hotels & Resorts portfolio located in Apgujeong, presents a diverse array of modern Korean dishes at 'Jogakbo Kitchen.'
For lunch, enjoy their lavish stone pot rice with a selection of side dishes, allowing you to personalise your meal with six seasonal toppings. In the evening, indulge in the sophistication of 'Juansang,' a thoughtfully curated traditional Korean set menu designed for delightful pairing with premium Korean beverages. Signature dishes such as Yukhoe (Korean beef tartare) and Galbi jjim (braised short ribs) elevate the dining experience.
Operating from 11:30 AM to 3:00 PM for lunch and 5:30 PM to 10:00 PM for dinner.
Inquiries: Andaz Seoul Gangnam 02-2193-1191
In the News
Australia-Republic of Korea 2+2 Foreign and Defence Ministers' Meeting
On May 1, 2024, Melbourne will host the Australia-Republic of Korea (ROK) 2+2 Foreign and Defence Ministers’ Meeting. This high-level gathering will be presided over by Australia's Deputy Prime Minister and Minister for Defence, the Hon Richard Marles MP, and Minister for Foreign Affairs, Senator the Hon Penny Wong. They will be joined by the ROK's Minister of Foreign Affairs, Cho Tae-yul, and Minister of National Defense, Shin Won-sik.
The meeting aims to further solidify the Comprehensive Strategic Partnership between the two nations, focusing on enhancing regional peace and prosperity, deepening cooperation both in the Indo-Pacific and globally, and strengthening defence and security ties. This engagement underscores the long-standing, robust partnership rooted in extensive trade and vibrant people-to-people connections.
The visit is notably significant as it marks Minister Shin Won-sik's first official visit to Australia in his current role. The Deputy Prime Minister has expressed his anticipation to build upon the productive discussions held in October 2023, celebrating a defence relationship with the ROK that stretches back 74 years to the Korean War.
In addition to the discussions, a visit to Hanwha Defence Australia’s facility in Victoria is planned. This visit highlights the ongoing expansion of defence industry cooperation, including the development of the Hanwha Armoured Vehicle Centre of Excellence. This initiative is expected to deliver a significant boost to the Australian defence industry and manufacturing capabilities, providing numerous job opportunities for the local community.
This pivotal meeting promises to enhance bilateral relations and contribute significantly to the stability and security of the Indo-Pacific region.
Australia Hits Record High with 700,000 International Students
Australia's international student numbers have reached a new high of over 700,000, contributing to a record 2.8 million temporary entrants in the country. This surge is despite the government's preference for permanent over temporary migration.
Measures to manage this influx include stricter English language requirements for student visas, enhanced scrutiny of education providers, and introducing a genuine student test. These steps aim to ensure students' genuine intent to study and to maintain migration at sustainable levels.
Australia Updates Travel Advisory for South Korea
The Australian Government has reviewed its travel advice for South Korea and continues to advise exercising normal safety precautions for all Australians visiting Korea. You may be required to register on the Korean Q-code quarantine registration system before arrival or to complete a health questionnaire on arrival.
Victoria Announces New Direct Asiana Airlines Flights Between South Korea and Melbourne
Victoria's State Government has announced the launch of new non-stop flights between South Korea and Melbourne, operated by Asiana Airlines, promising enhanced connections for tourism, trade, and economic growth. For more information, please refer to the attached press release.
Happy Earth Day
In a united response to global environmental challenges, Australia and Korea are set to mark Earth Day with a series of collaborative initiatives to promote sustainability and conservation. Earth Day, observed annually on April 22nd, serves as a call to action for environmental protection worldwide, and the 2024 theme emphasizes the urgent need to "Invest In Our Planet."
Both nations will engage in activities ranging from community clean-ups to educational workshops, focusing on innovative strategies to combat climate change and enhance biodiversity. This partnership highlights a significant commitment to sharing resources and knowledge, particularly in renewable energy technologies and sustainable urban development.
As Earth Day grows in momentum, the cross-continental efforts of Australia and Korea exemplify their dedication to a healthier planet. These activities not only foster greater environmental awareness but also strengthen the bond between the two countries in their mutual pursuit of a more sustainable future.
To find out more about Earth Day Network, please visit their website.
South Korea Emerges as a Top Destination for Australian Tourists
South Korea has become a hot destination for Australian tourists.
Australians are venturing overseas more than ever, with airfares significantly dropping. South Korea, in particular, has seen a 28% increase in Australian visitors, making it a popular destination for those from Down Under. The decrease in travel costs has opened up new opportunities for Australians living in Korea to explore the region or visit home more affordably. With travel rebounding to above pre-pandemic levels, now is an ideal time for Australians in Korea to enjoy the perks of increased flight options and lower prices.
Northern Territory and South Korea Forge New Partnership in Critical Minerals Sector
Northern Territory and South Korea Strengthen Ties in Critical Minerals Sector.
Last week, industry leaders from Australia, Japan, the Republic of Korea, and the United States convened in Darwin to deliberate on issues of critical mineral production, supply chain resilience, and economic security. A pivotal event was the signing of a Memorandum of Understanding (MoU) between the Korea Mine Rehabilitation and Mineral Resources Corp.(KOMIR) and the Territory Government.
KOMIR, a key South Korean government entity responsible for resource security and international mining engagements, signed the landmark MoU. The MoU lays a solid foundation for mutual cooperation and marks a significant milestone in strengthening trade relations with South Korea, the Northern Territory's fourth-largest trading partner.
The Northern Territory's mineral sector is a vital economic driver. Last year's mineral production was valued at $4.86 billion and employed 4,400 individuals. With an increasing demand for critical minerals to support renewable energy, battery storage, and high-tech industries, the Northern Territory positions itself as a reliable trading partner for the foreseeable future.
Chief Minister Eva Lawler remarked, "The Territory Labor Government is securing the NT’s economic future through strategic partnerships. We are becoming a leader in the critical mineral sector, and are well placed to meet the growing global demand for these resources."
Minister for Mining, Mark Monaghan added, "This agreement with South Korea, a nation with double the population of Australia, will enhance our governmental ties and highlight the Territory's critical minerals to South Korean investors, encouraging more private companies from South Korea to invest in the Northern Territory."
This collaboration not only underscores the Northern Territory's role in the global minerals market but also promises to generate extensive employment opportunities across the region.