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Last week, President Moon said that his government would use all available policy measures to ensure that South Korea becomes a global secondary battery-manufacturing powerhouse by 2030.

South Korea’s national pension fund, the National Pension Service (NPS) acquired a 100 percent stake in Melbourne Quarter Tower (office building) from Lendlease for $1.2 billion. This investment signifies the NPS’ largest investment in Australia to date and in a move to diversify investment destinations and secure profits from projects that are not completed yet.

#Hydrogen is at the forefront of collaboration opportunities between Korea and Australia, Ambassador Catherine Raper said during an event co-hosted by the Global Green Growth Institute (GGGI) and the Australian Embassy in Seoul.

Victorian Government‘s new $34.9 million plan will create a world-first battery facility and a regional hydrogen hub. The Projects include the Battery Technology Research and Innovation Hub 2.0 at Deakin University’s Burwood campus. It features a testing lab and pilot production line to research and manufacture advanced batteries using lithium and sodium.

Infinity Lithium and LG Energy Solution signed an MOU on 28 June for the offtake for the long-term supply of battery grade lithium hydroxide from the San Jose Lithium Project.

According to the Korean business circle, all of the country’s 10 largest corporate giants, except Samsung Group and LG Group, have either entered or have announced plans to enter the hydrogen business. Hyundai Motor Company was a pioneer and the first to invest large amounts in #hydrogen with SK Group being the most aggressive investor at the moment. Hyundai’s investments were initially looked at as too early as late as the beginning of 2020 but that view has now shifted dramatically with the recent findings on Hydrogen and its market potential.

The Australia-Korea Business Council congratulates the appointment of Mr Ryan Freer as Trade and Investment Queensland’s new Trade and Investment Commissioner for Korea. 

President Moon and Prime Minister Scott Morrison have engaged in their bilateral talk on the wings of the G7 Summit in the UK. Moon and Morrison agreed to broaden bilateral economic cooperation, to #lowcarbon technologies, including #hydrogen production and use, and development of #minerals. Two leaders agreed on elevating their relationship to a “comprehensive partnership” as the two nations are commemorating the 60th anniversary of the establishment of diplomatic ties this year.