The Australia Korea Business Council, in promoting two-way trade and investment with The Republic of Korea, seeks to foster economic co-operation and understanding between the business communities of Australia and Korea. It is the most senior existing Association in Australia concentrating on business liaison with Korea.

The Council was formed in 1978 following perception of the needs for informed knowledge and closer liaison with Korea over the years. It provides a forum for the exchange of up-to-date commercial information on Korea.

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Membership is open to individuals and organisations having a significant existing or potential interest in some aspect of Australia/Korea trade or in the development of Australia/Korea business relationships. Members of the Council must therefore have substantial resident business interests in Australia and Australian identity. The member should, by its membership of the Council, have the potential to generate direct benefit for Australia.

Council operates a two tiered membership structure. Associate Membership is available to sole traders, companies or organisations which have an annual turnover of less than $2,500,000. Associate Membership fees are considerably less than full membership fees.

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The Australia Korea Business Council is dedicated to assisting Australian enterprise develop and maintain open and co-operative relations between businesses in Australia and Korea.

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The Australia Korea Business Council's aim is to provide a national focus in encouragement and support of Australian enterprises in their pursuit of opportunities for bi-lateral trade and investment with Korea. AKBC will do this by seeking to influence relevant policy makers in Australia and Korea and by sharing promotion and support for Australian business enterprises through creation of opportunities for linkages and networking.

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In a relatively short space of time South Korea has become Australia's third largest bilateral trading partner and is anticipated to surpass the USA into second place before the turn of the century.

Membership of AKBC with its strong networking capabilities will be of benefit to companies wishing to participate in expanding bilateral trade opportunities.

Council has been established to:

• provide an opportunity for Australian businesses to network on Korean business activities with their peers
• provide a forum for establishing high level contacts in the Australian and Korean Government, financial and business communities
• influence Australian and Korean policy makers and act as a conduit between governments and the Australian business community
• promote ties with similar Korean based organisations such as Korea Australia Business Council; Federation of Korean Industries; Association of Foreign Trading Agents of Korea; Research Institute of Industrial Science and Technology, etc
• develop and maintain a high level of support for Council's activities from the respective governments and collaborate in relevant government initiated programmes
• enable all members to add weight to Council's endeavours to create new business opportunities and further increase trade and investment
• be recognised as the peak body for promoting business links between Australia and Korea

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The objectives of the AKBC will be achieved through the following services and activities:

Membership Services

• Membership networking
• A forum for audit and review of business policy in such areas as government policies, foreign exchange, partner selection and evaluation, infrastructure challenges, intellectual property issues, building long term partnerships, taxation, local business practices and expatriate entry and exit planning.
• Database of consultants and service providers.
• Regular communication with members.

Public Events

• Conferences, seminars and regional group meetings.
• International Joint Business Meetings and associated study tours.
• Functions for visiting dignitaries and business leaders.

External Affiliations

• Australian and Korean government departments and counterpart organisations.
• Linkages to other councils and chambers for benchmarking.

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Through Council membership, senior executives can expect to come into regular contact with other senior Australian executives with interests in Korea and more particularly, senior Korean Executives, managers and officials.

These personal contacts lead to lasting business relationships and jointly beneficial business transactions.

The common interests of members particularly throughout the annual joint meetings with Council's counterpart, the Korea Australia Business Council, and also in presentations towards governments' policies are of benefit not only to individual members, but clearly also to Australia.

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