New South Wales invites Korea to cooperate on clean energy

New South Wales Premier Dominic Perrottet speaks during a business breakfast with Australian and Korean business community at Grand Hyatt Seoul, Monday. Perrottet is visiting Korea to promote cooperation on clean energy, which is his first overseas mission as premier. Courtesy of NSW Government

By Kwon Mee-yoo

Australia's New South Wales (NSW) Premier Dominic Perrottet visited Korea with hopes to take relations with Korea a step further in numerous fields, especially in energy transition.

NSW is one of the six Australian states and has the largest population in the country, well-known for its state capital Sydney. Currently, Korea is NSW's third largest export market and a large Korean-born population living in the state bridges relations between the two nations, however, Premier Perrottet thinks that yet more potential can be realized.

"New South Wales has a strong trade relationship with Korea, but coal obviously is at play. We can supercharge it forward by looking at new areas," Perrottet told The Korea Times during a business breakfast at a hotel in Seoul, Monday morning.

"Korea has a strong focus on emission reduction and energy transition and both Korea and New South Wales have a strategic focus on clean energy. So that's why I'm here on the first trip."

Perrottet is on a 10-day trip and will visit Korea, Japan and India, in his first overseas mission since the pandemic.

"New South Wales is Australia's economic powerhouse. NSW is Australia's gateway to the world and the world's gateway to Australia," the premier said highlighting the importance of expanding NSW's international network.

According to Perrottet, NSW is the leader in five key emerging sectors such as medical technology and life science, digital technology, defense and aerospace, agribusiness and clean economy and clean resources in Australia.

"In particular, I want to talk to you about green hydrogen and rare minerals. These are two areas where we have shared visions. And shared visions mean shared opportunities," he said.

He emphasized that Australia can be a great partner for Korea in achieving the net zero plan as the two countries share the same goal of reducing emissions.

"At the same time, we acknowledge that Korea wants to make sure economic growth and energy security go hand in hand if the robust industrial sector is to remain internationally competitive. And the key for both states is clean energy ― with Green Hydrogen is at the heart of that," Perrottet said.

NSW has a natural advantage in developing large-scale green hydrogen production facilities, including high voltage transmission, affordable renewable energy resources, access to deep water ports and skilled labor force.

"Our policies are designed to make NSW the best place to invest in hydrogen anywhere in the world... So as we grow our green hydrogen production capabilities, we want you to be an important part of that growth."

The Premier also noted that NSW is rich in mineral resources, especially those used in batteries and other high-tech products, providing the Australian Strategic Metals Dubbo Project as an example of Korea-Australia partnership in critical minerals.

"The Dubbo Project will produce metal oxides in the form of chemicals, powders and metals... When it's completed, most of those chemicals, powders, and metals will be supplied to ASM's Korean metals plant, located just 115 kilometers from where we stand today," he said.

"The simple point is this: NSW has the resources to be a global clean energy superpower ― and we welcome investment by Korean corporations in our shared decarbonization journey."

The Premier said there is a unique opportunity for international partners to be part of NSW's next chapter.

"We are resilient with strong fundamentals and the right building blocks to expand and transform our economy. The NSW economy has grown every year on record. At the height of the pandemic, we outperformed our competitors," he said.

"We are globally connected with strong links across the world's fastest-growing region, the Indo-Pacific. We are home to world-class education and research institutions and we have a highly skilled and diverse workforce ― including a strong STEM workforce pipeline."

Perrottet added that the state government recently committed $149 million to accelerate growth and attract investment in priority sectors, including funding for incentives for local and international investors.

During his four days in Korea, Perrottet's schedule is packed with meetings centering on clean energy and biotech, including a visit to Hyundai Motor Studio to take a ride in hydrogen-fueled vehicles as well as Seoul Biohub, where he will have roundtable discussions with biotech experts.