POSCO CEO Attends 38th Annual Australia-Korea Business Council Meeting

The 38th Annual Australia-Korea Business Council (AKBC) Meeting was held in Brisbane, Australia from November 13 to 15. POSCO CEO Kwon Ohjoon attended the meeting as the Korean chair of the AKBC and discussed bilateral economic cooperation and development.

In the opening speech, CEO Kwon remarked, “As global economic conditions are rapidly changing, our two countries must work together to expand our cooperative relationship,” and emphasized the protection of free trade and reinforced complementary cooperation between the two countries.

At the general meeting, the panelists of the two countries discussed industries with potential for bilateral cooperation including investment, resources and infrastructure, the 4th Industrial Revolution, and food and agro-livestock.

In particular, the panelists discussed ways to uncover new industries in line with the 4th Industrial Revolution, methods of treating energy waste, and joint development of the health and food industries, and current global issues.

The Korean delegation to this annual meeting consisted of over 50 people, including CEO Kwon, Chairman of SM Group Oh-hyun Woo, GS E&C President & CEO Sang-gi Lee and Lotte International Senior Managing Director Gi-ho Jeong. The Korean council members attended the joint meeting, and visited the Startup Precinct in the outskirts of Brisbane, and discussed the venture firms and start-up ecosystem of Australia.

The AKBC is the only private economic consultative organization of the two countries. It has been promoting bilateral cooperation between the two countries for about 40 years since its establishment in 1979.

Photo cover courtesy of Federation of Korean Industries.