The Australia-Korea relationship presents numerous opportunities for collaboration and growth within the financial services sector. Growing geopolitical uncertainly, a shared decarbonisation agenda, coupled with Korean investors seeking higher returns from offshore markets offer opportunities for increased bilateral engagement. Despite being Australia’s fourth largest bilateral trading partner, Korea ranks 17th in foreign investment into Australia, demonstrating the huge potential that awaits. With five Korean institutions with offices in Australia, progress is underway to strengthen ties and deepen relationships, however greater work is required to unlock the full size of the opportunity that the bilateral relationships presents.
AKBC shares a close working relationship with KOFIA and facilitates and hosts regularly visits from KOFIA and their members to promote opportunities in Australia and strengthen relationship with the Australian financial services industry.
The AKBC financial services sub-committee is open to AKBC members who have joined at the Advance, Immerse, and Accelerate levels. This restricted membership ensures that participants possess the necessary expertise and commitment to actively contribute to discussions and drive meaningful progress.
The subcommittee meets through regular meetings and events, allowing members to share insights and experiences.
Recent activity by the sub-committee includes:
- Attendance and opportunities to present at the annual Australia-Korea New Energy Forum, hosted by AKBC and the Embassy of the Republic of Korea in Australia
- Attendance and speaking opportunities at the WA-Korea Business Forum (2023)
- Attendance and contribution to the Invest in Australia event with FIRB Chairman Bruce Miller AO, co-hosted with Austrade (2023)
- Contributing to the AKBC report "Strike While the Iron is Hot"