Queensland-Korea relationship strengthens over decades

Queensland’s 20-year trade and investment relationship with Korea has been celebrated overnight with an official reception in Seoul.

Twenty years ago the Queensland Government established an office in Seoul, and in doing so became the first Australian state to open a trade office in Korea.

Treasurer and Minister for Trade and Investment Cameron Dick said Korea is one of Queensland’s most important friends, allies, and trading partners.

“The Queensland-Korea alliance has significantly and positively impacted the growth and productivity of our economies and communities,” Mr Dick said.

“Across industry and business; in resources, in primary production, in innovation; the opportunities have been and will continue to be plentiful.

“Over the past two decades we have also forged deep and meaningful links that extend beyond trade.

“The ongoing work of Trade and Investment Queensland in Korea is ensuring the bond between state and nation remains strong.”

Queensland is a substantial supplier of food and agricultural products to Korea, with exports in the sector reaching $1.2 billion in 2020-21, up from $535 million ten years prior.

Korea is Queensland’s third-largest goods trade partner, valued at almost $10 billion in 2020-21.

Korea is also a major buyer of Queensland resources, including coal and LNG.

The official reception to celebrate 20 years of TIQ in Korea was attended by over 50 dignitaries at the Millennium Hilton Seoul, including Australian Ambassador to the Republic of Korea Catherine Raper, and Kim Young Jun, Ambassador of the Gyeonggi provincial government, Queensland’s sister-state government.

Newly appointed Queensland Trade and Investment Commissioner for Korea Ryan Freer said the strong trade and investment ties will continue.

“Our 20-year presence here is a real milestone, one that signifies a robust partnership based on shared values, trust and mutual respect,” Mr Freer said.

“Our goal is to continue strengthening and growing Queensland’s trade and investment relationship with Korea, creating win-win opportunities to advance and build industry capability, adding value to both economies.”

Trade and Investment Queensland is the Queensland Government’s dedicated global business agency assisting exporters and promoting Queensland as the place to invest.

ENDS

Media contact: Ben Doyle 0400 775 561