More than 250 Australian and Korean business leaders are gathering in Adelaide this week as the two countries look to strengthen ties across some of the state’s biggest industries.
For the first time since the annual event began in 1978, the Australia-Korea Business Council (AKBC) and Korea-Australia Business Council (KABC) Joint Meeting is being held in South Australia.
The two-day forum brings together senior business leaders, government representatives and industry figures from both countries to explore new opportunities for collaboration, investment and trade.
Among those attending are representatives from major Korean companies including POSCO Group, Hyundai Engineering and Construction, Samsung Construction and Trading, Hyosung Heavy Industries and Shinhan Bank.
The event will also provide South Australia with an opportunity to showcase its strengths and attract further Korean investment, with the 2026 program focusing on sectors including energy, critical minerals, defence and space, advanced manufacturing, technology and innovation.
“South Australia’s relationship with South Korea is important for our long-term trade and investment goals,” shared State Development Minister Chris Picton. “It is built upon shared strategic interests, complementary economies and strong connections.
“It is fitting that this significant event has come to Adelaide this year, given we share similar strengths, and there is strong business collaboration between us in green energy transition, mining, housing and construction.”
South Korea is currently South Australia’s 13th-largest export partner, with the value of South Australian exports reaching $426.6 million in the year to June 2026.
That figure represents a 37 per cent increase on the previous year, driven in part by a huge 405 per cent increase in copper exports.
Beef remains the state’s biggest export to Korea at $104 million, while South Australian wine exports to the country also grew by 37.2 per cent to $20.8 million.
The relationship has also been strengthened through several major agreements, with the South Australian Government signing Memorandums of Understanding with Samsung Construction and Trading and Hyundai Engineering and Construction in 2024.
The agreements are designed to create new opportunities for collaboration across renewable energy, housing and infrastructure.
Korea is also home to one of South Australia’s international offices, with the Seoul office working to attract investment into the state while supporting local businesses looking to export into the Korean market.
The Joint Meeting will be formally opened by Australia-Korea Business Council Chair the Hon Martin Ferguson AM and Korea-Australia Business Council Chair Dr Chang In-Hwa, who is also CEO of POSCO Holdings.
Federal Foreign Affairs Minister Senator Penny Wong and Trade and Tourism Minister Senator Don Farrell are also among the speakers, alongside Mr Picton.
Australia-Korean Business Council chief executive officer Liz Griffin said, “Few countries are as complementary as Australia and Korea, with Australia’s strengths in energy, resources and critical minerals aligning strongly with Korea’s capabilities in advanced manufacturing, technology and innovation.
“Our relationship is also becoming broader and deeper, with new areas of economic cooperation emerging alongside stronger people-to-people ties and growing Australian engagement with Korean culture.”
With Adelaide hosting the event for the first time, Liz said face-to-face connections would be key to developing the relationship further.
“There is no substitute for face-to-face engagement in building enduring business relationships, and we are thrilled to bring the Joint Meeting to Adelaide for the first time.”
