Ministerial Briefing Document In Relation To Meetings With South Korean Government Officials

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This briefing pack prepared for Minister Madeleine King's February 2024 visit to South Korea outlines the bilateral resources and energy relationship between Australia and the Republic of Korea. Key facts highlight Korea as Australia's fourth-largest trading partner overall ($81.8 billion in two-way trade in 2022) and third-largest export market ($53.9 billion). In resources and energy specifically, Korea ranks as Australia's third export destination with $47.5 billion in 2022 exports, and third-largest LNG market after Japan and China ($19.1 billion in 2022-23). Korean investment in Australia totals $28.1 billion, concentrated primarily in resources with recent diversification into food and other sectors. The briefing establishes key messages emphasizing Australia's role as a reliable, stable supplier of energy and resources to support Korea's energy security. The delegation included departmental officials and embassy staff. Substantial