Korea and Australia Join Hands for 'Green Business'

KOTRA Hosts 'Han-Ho Business Plaza'... Achieves $5 Million Export Performance

The image shows a domestic company representative and a buyer conducting consultations at the 'Korea-Australia Business Plaza' metaverse event venue (online consultation hall). Photo by KOTRA

[Asia Economy Reporter Lee Hye-young] KOTRA's 'Korea-Australia Business Plaza,' launched on the 1st of this month, concluded with meaningful achievements.

KOTRA announced on the 23rd that all events ended with the 'Green New Deal Seminar and Investment IR' held on the 18th. The Green New Deal seminar and water industry webinar, jointly organized by Korea and Australia through public-private cooperation for the first time, marked the beginning of a full-fledged cooperative relationship, achieving export results in equipment and consumer goods.

The 'Green New Deal Seminar and Investment IR' was co-planned and hosted with the Korean Embassy in Australia. Thirteen speakers representing the green industries of both countries introduced promising sectors and cases of overseas expansion by green small and medium-sized enterprises. Considering the current hydrogen industry dominated by large corporations, KOTRA focused on promoting the entry of small and medium-sized enterprises. More than 120 officials and companies from both countries participated in the event.

Achievements in green industry exchanges between companies were also realized. Domestic leakage detection sensor companies Y and D, which participated in the water industry webinar held on the 3rd, are expected to participate in pilot installation projects in Australia through CNS Engineering, which was one of the speakers. This is expected to generate annual exports of 5 million USD.

Curtis Heo, CEO of CNS Engineering, said, "The Australian water industry has recently shown high interest in Korea's IT-based innovative products such as remote leakage detectors due to the aging of the water supply network," adding, "We hope to continue to be introduced to Korean products with technological capabilities."

In addition to the green industry entry support events at the 'Korea-Australia Business Plaza,' KOTRA held various events promoting human and material exchanges, including online consultations, employment homecoming days and counseling sessions, and support projects for entry into Australia's largest distribution network for K-alcoholic beverages.

The event also operated a metaverse virtual space. In the webinar virtual space, participants met speaker avatars and asked questions, and in the virtual consultation hall, buyers visited Korean company booths for on-site consultations, enhancing the sense of presence.

Kim Byung-ho, head of KOTRA Sydney Trade Center, stated, "This event was prepared to promote cooperation between Korea, which is focusing on the 'Green New Deal' policy, and the Australian industry aiming to become a 'green hydrogen production hub.' We confirmed the strong willingness for cooperation between the industries of both countries through this event, and based on this year's results, we will continue to support promising sectors such as the green industry next year."