Prime Minister Anthony Albanese was in the Republic of Korea from October 29 to November 1 for a successful visit focused on strengthening Australia’s trade and investment at the 2025 APEC Summit.
APEC is a crucial platform for inclusive and long-term growth, with member economies accounting for 75% of Australia’s worldwide commerce. Leaders adopted the Gyeongju Declaration, which aligns with Australia’s goals of increasing trade, encouraging innovation, and promoting sustainability under the themes of ‘Connect, Innovate, and Prosper.’ This reinforces our shared commitment to developing a resilient Asia-Pacific.
The Prime Minister joined regional business leaders at the APEC Business Advisory Council Dialogue to advance Australia’s forward-looking economic agenda and develop cooperation between government and the private sector.
A salient result of the visit was the bilateral meeting with the President of the Republic of Korea, Lee Jae Myung. Both countries signed an MOU to upgrade the trade and investment partnership between the two nations. This will promote greater cooperation and more high investment in priority areas, including climate and clean energy, critical minerals, infrastructure, defense and space, advanced manufacturing, health and biotech, education, and agribusiness.
Australia is also providing $7.5 million for projects under the Australia–ROK Green Economy Partnership Arrangement on Climate and Energy to boost clean energy technology and supply chains.
The Prime Minister marked the 75th anniversary of Australia’s involvement in the Korean War by paying respects to fallen Australian soldiers at the United Nations Memorial Cemetery.
The Prime Minister also visited the POSCO Pohang Steelworks, highlighting deepening cooperation on critical minerals and technology for developing green metals.
Apart from the key meetings with the Republic of Korea, Prime Minister Albanese had a series of bilateral meetings with the leaders of many countries, including Brunei, Canada, Chile, China, Indonesia, Malaysia, New Zealand, the Philippines, Singapore, Thailand, the United States of America and Vietnam.
