20th Anniversary of the Opening of the Korea Trade Office in Queensland, Australia... Reception Successfully Held

The Queensland Government of Australia’s Trade and Investment Office in Korea held a reception on the evening of the 24th at the Millennium Hilton Hotel in Jung-gu, Seoul, to celebrate the 20th anniversary of the opening of the Korea Trade and Investment Office.

Cameron Dick, Queensland Government Minister for Treasury and Trade, emphasized the strategic relationship between Queensland and Korea in trade and investment through a video message, stating, “We deeply value the genuine friendship and important trade and investment relationship between Korea and Queensland. Over the past 20 years, we have built a connection that goes beyond simple trade relations, and I believe that Queensland being the first Australian state government to open a trade office in Korea has also laid a solid foundation for this relationship.”

Korea is Queensland’s third-largest merchandise trading partner, recording exports worth approximately AUD 10 billion (about KRW 8.5955 trillion) in the 2020/21 fiscal year (July 2020?June 2021). This is the highest figure compared to other Australian states or regions and represents about a fourfold increase over the past 20 years compared to AUD 2.4 billion (about KRW 2.0629 trillion) in 2000/01.

Queensland is an important supplier of agricultural and food products to Korea, with exports reaching AUD 1.2 billion (about KRW 1.0314 trillion) in the 2020/21 fiscal year, a significant increase from AUD 535 million (about KRW 459.8 billion) ten years ago. Notably, Korea is Queensland’s second-largest beef export market, recording AUD 1.1 billion (about KRW 945.5 billion) during the same period. Additionally, various fruits and vegetables produced in Queensland, such as mangoes and broccoli, continue to enjoy strong demand in the Korean market. Furthermore, Korea is a major importer of Queensland’s natural resources, including coal and LNG.

The event was attended by over 50 key industry figures, including Catherine Raper, Australian Ambassador to Korea, and Kim Young-jun, International Relations Ambassador of Gyeonggi Province, Queensland’s sister region, who delivered greetings highlighting the long-standing relationship and activities between Korea and the Queensland Government.

Korea has been actively investing in Queensland’s renewable energy, mineral resources, agriculture and food industries, and real estate development. Notable examples include Lotte Corporation’s investment in the Sandalwood feedlot and CJ CheilJedang’s CJ NutraCon.

Ryan Freer, Head of the Queensland Government Trade and Investment Office in Korea, said, “The past 20 years in Korea have been a meaningful journey of strengthening partnerships based on shared values, trust, and mutual respect. The Queensland Trade and Investment Office aims to continuously enhance and grow trade and investment relations with Korea, creating mutually beneficial opportunities that increase economic value and develop and build industrial capabilities for both countries.”

Meanwhile, in July this year, the International Olympic Committee (IOC) officially confirmed Brisbane, the capital of Queensland, Australia, as the host city for the 2032 Summer Olympics. The Queensland Trade and Investment Office plans to lead overseas trade and investment programs as part of the 2032 Summer Olympics, expecting this to serve as an opportunity to showcase investment and trade promotion worldwide.

The Queensland Trade and Investment Office is a global business support agency under the Queensland Government, responsible for supporting export companies as well as promoting and supporting investment activities in Queensland.