October 1976: The Korean economic delegation for the Asia-Pacific region and the Confederation of Australian Industry(CAI) agree to establish the Korea-Australia Business Council (KABC), a private-sector bilateral business organization.
4-9 May 1978: (1) The inaugural meeting of the Council is hosted in Sydney, with economic delegations from both sides in attendance.
For the past 40 years, the Council has grown into an annual bilateral meeting attended by top business executives and government leaders.
Chairman
Korea
Chang, In Hwa, CEO, POSCO Group (KABC Secretariat: Federation of Korean Industries)
Australia
Hon Martin Ferguson AM, former Minister for Resources and Energy
Purpose
To facilitate networking across the public and private sectors of Korea and Australia
To suggest policy recommendations with the goal to enhance bilateral business and trade environment
To identify joint business projects
Activities
To remove trade barriers to achieve broader and balanced trade
To expand the scope of bilateral cooperation into agriculture, mining, energy, education and defense
To foster cooperation in future industries, e.g., renewable energy and EVs