Korea-Australia Alliance Targets Critical Minerals Growth

POSOCO Group Chairperson Chang In-hwa proposed strengthening cooperation in the critical minerals supply chain between Korea and Australia. He emphasized that combining Australia's abundant resources with Korea's advanced smelting and processing technology will have greater potential as a new growth axis for industrial cooperation.

Chairman Chang made these remarks at the 47th Korea-Australia Business Council (AKBC) annual joint meeting in Adelaide on July 2. The meeting brought together over 200 figures from both countries, including Australian Foreign Minister Penny Wong and Trade and Tourism Minister Don Farrell.

The AKBC discussed cooperation plans in three areas: steel, secondary battery materials, and critical minerals cooperation; innovation and R&D; and energy transition and decarbonization. Chairman Chang proposed that the two countries build an energy ecosystem by stabilizing the natural gas supply chain and cooperating on renewable energy.