POSCO chief proposes combining Korean technology and Australian resources to strengthen supply chains

POSCO Group Chairman Chang In-hwa called for Australia’s abundant resources and South Korea’s advanced refining and processing technology to be combined to strengthen bilateral supply chains.

Chang made the proposal in Adelaide while attending the 47th annual joint meeting of the Korea-Australia Economic Cooperation Committee as the Korean committee’s chairman. The meeting brought together about 200 political and business figures from both countries, including Australian Foreign Minister Penny Wong, Trade and Tourism Minister Don Farrell, and Martin Ferguson, chairman of the Australian side of the committee.

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Let us strengthen supply chains by combining Australia’s abundant resources with Korea’s advanced refining and processing technology.

He also urged the two countries to expand cooperation beyond raw materials. Chang said they should build a joint energy ecosystem by stabilizing natural-gas supply chains and working together on renewable energy.

He further proposed expanding partnerships in higher-value sectors, including research and development in defense and space. His goal, as presented at the meeting, was for South Korea and Australia to become core partners in future advanced industries.

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Let us create an energy ecosystem for both countries through stable natural-gas supply chains and renewable-energy cooperation, and expand our partnership through research and development in defense and space so that we can become core partners in future advanced industries.