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| Australian Ambassador to Korea James Choi, ninth right, and Australian Chamber of Commerce in Korea (AustCham Korea) Chairman Christopher Raciti, 10th right, with winners of the 2020 Australia-Korea Business Awards at the Grand Hyatt Seoul in Yongsan-gu, Seoul, Jan. 31. / AustCham Korea |
By Yi Whan-woo
Australian Ambassador to Korea James Choi wanted this year's Australia-Korea Business Awards to showcase the diversity and the broad scope of Australia's economy and trade between the two countries.
And awardees did not fail to meet his expectation, with their areas of businesses ranging from finance to food and beverage, energy and natural resources, biotechnology, health, education and startups, which altogether contribute to a $28 billion bilateral trade.
Given to outstanding enterprises and individuals in expanding bilateral business and trade relations since 2010, the award hosted by the Australian Chamber of Commerce in Korea (AustCham Korea) was divided into 15 categories this year.
The ceremony at the Grand Hyatt Seoul, Jan. 31, drew more than 200 guests, including Ambassador Choi and AustCham Korea Chairman Christopher Raciti, who serves as Korea CEO of Australia and New Zealand Banking Group.
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| Australian Ambassador to Korea James Choi speaks at the Australia Day celebration at Grand Hyatt Seoul in Yongsan-gu, Seoul, Jan. 31. / Korea Times photo by Yi Whan-woo |
The awards took place in a joint celebration with the Embassy of Australia in Korea for Australia Day, which highlights the country's openness and diversity built on the first European settlement at Port Jackson, now part of Sydney, in 1788.
Among the 2020 winners, Macquarie Group showed its strong presence in Korea as the country's largest foreign asset management firm.
Celebrating 20 years in Korea, the Sydney-based multinational investment bank and financial services company took Corporate Social Responsibility honors for providing volunteers and donations to a wide range of charities in Korea.
The company and its Asia Chairman John Walker also received the AustCham Special Recognition Award given to an enterprise and individuals.
Walker was among the three individual winners. The two others were Graham Dodds of AustCham Korea and Lee Jae-won of Korean steel giant POSCO.
Meanwhile, the Business of the Year award went to Australia's Pepper Savings Bank for consumer banking and job creation efforts, while Australian firm IFM Investors in partnership with Hanwha Asset Management and Hyundai Investments won the Financial Services category for launching a $420 million infrastructure debt fund in Korea.
POSCO won the Australia-Korea Partnership category; Lotte International Oceania won the Agricultural, Food and Beverage category; the Korea Financial Investment Association (KOFIA) won the Industry Association and Advocacy category; and MoonBear Brewing won the Startup and Small Business category.
POSCO has a joint venture with Australian mining company Pilbara Minerals to build a downstream lithium chemical conversion facility in Gwangyang, South Jeolla Province. The joint venture will enable POSCO to secure a stable supply of raw materials for manufacturing batteries.
"The awards today highlight the diversity of Australian businesses," Ambassador Choi said. "While our trade relationship was built on resources, the diversity of tonight's nominees demonstrates the broad scope of Australia's modern economy and our bilateral trade relationship with Korea."
Calling the award the chamber's premier event, AustCham Korea Chairman Raciti said it "demonstrates the success of liberalized trade between our two countries."
Bilateral free volume has increased more than 15 percent since a free trade agreement (FTA) took effect in December 2014.
The award event was followed by a reception, which AustCham also hosted.
In his congratulatory speech, Choi said the 2020 winners "are seizing the opportunities provided by" the FTA.
