South Korea-Australia Foreign Ministers’ Meeting: “Crucial to Maintain Complementary Supply Chain Cooperation”

South Korea and Australia have agreed to strengthen cooperation in energy security and the defense industry to address the energy supply chain crisis caused by the situation in the Middle East and the potential blockade of the Strait of Hormuz.

Minister Cho Hyun and Penny Wong, Minister of Foreign Affairs of Australia, met for talks on the afternoon of the 30th at the Ministry of Foreign Affairs located in Jongno-gu, Seoul. Photo by Ministry of Foreign Affairs

According to the Ministry of Foreign Affairs on April 30, Minister of Foreign Affairs Cho Hyun and Australian Minister of Foreign Affairs Penny Wong met at the Government Complex Seoul and agreed that close cooperation is essential to maintain a complementary supply chain relationship in the energy sector, especially amid the volatility of the global energy market.

Accordingly, the ministers jointly announced the "Korea-Australia Energy and Resource Security Joint Statement" under the names of relevant ministers in foreign affairs, industry, and energy from both countries. They committed to work together to enhance the stability and resilience of supply chains. The joint statement was issued by Minister Cho, Minister of Trade, Industry and Energy Kim Jeonggwan, Minister Wong, Minister for Resources Madeleine King, and Minister for Climate Change and Energy Chris Bowen.

In addition, both countries assessed positively the close communication they have maintained amid growing global uncertainty due to the recent situation in the Middle East. Marking the 65th anniversary of diplomatic relations and the fifth anniversary of the upgrade to a "Comprehensive Strategic Partnership," both sides agreed to continue consultations through high-level channels such as upcoming Foreign and Defense (2+2) Ministers' Meetings and strategic dialogues.

In the joint statement, the two nations said, "We share deep concerns about the spillover effects of the situation in the Middle East on the energy resources and other critical raw materials sectors," and reaffirmed their commitment to work together to strengthen energy and resource security, including efforts to ensure a stable, safe, and reliable supply of energy resources such as diesel, other liquid fuels, LNG, and condensate. They added, "The two countries will endeavor to notify each other and consult to the extent possible in the event of potential supply disruptions."

During a doorstepping session held at the Australian Embassy in Seoul after the talks, Minister Wong stated, "South Korea is one of Australia's largest major suppliers. South Korea is our largest supplier of diesel and a major supplier of refined petroleum products, ranking second for gasoline and third for aviation fuel." She added, "Australia supplies LNG to South Korea, and South Korea supplies diesel to Australia. We depend on South Korea, and South Korea depends on us."

Meanwhile, Minister Wong is visiting South Korea following her trips to Japan and China. Prior to her meeting with Minister Cho, she met with Minister of Trade, Industry and Energy Kim Jeonggwan earlier in the day.

This content was produced with the assistance of AI translation services.