Trade and Investment Minister Joe Szakacs has departed for Korea and Japan leading a delegation of energy and resource industry CEOs to explore trade and investment opportunities with two of South Australia’s key regional partners.

Japan and Korea are major export markets worth nearly $1 billion combined to the state’s economy, and are key purchasers of South Australian wine, meat, tuna and canola.

South Australia leads the world in renewable energy, and the promotion of opportunities in our green hydrogen industry, including green iron and steel, will form a major focus for the trip as both Korea and Japan look to accelerate their transitions towards net zero.

Minister Szakacs is being joined by CEOs from energy and resources companies including Magnetite Mines, Hallett Group, Iron Road and Renascor Resources, sending a strong signal that the Malinauskas Government is working closely with private sector partners to deliver its decarbonisation agenda, and highlighting its leadership role developing clean energy projects, including its Hydrogen Jobs Plan.

Alongside more than 500 business leaders and corporations, Minister Szakacs will also attend the premier forum for Australia-Japan trade and investment at the annual bilateral Australia Japan Business Cooperation Committee Conference (AJBCC) in Nagoya, representing our state’s world-class export sector and spruiking our state’s investment opportunities with key Japanese investors and stakeholders.

Minister Szakacs will attend critical meetings with energy, resource and space industry companies including Hyundai Engineering and Construction (Hyundai E&C), Mitsubishi Heavy Industries and IHI Aerospace, and meet with Japan’s flag carrier, Japan Airlines.

A visit to Tokyo’s Toyosu Market – the world’s largest fish market, where a bluefin tuna recently sold for more than $1 million – will provide an opportunity to further highlight South Australia’s premium seafood offering. The Malinauskas Government’s recently launched Seafood Export Growth Program is supporting our seafood industry grow and diversify its exports.

Key to the $475,000 Malinauskas Government program will be support provided to exporters to attend major international trade events to meet with local buyers, including next year’s World Expo in Osaka.

During his visit to the market, Minister Szakacs will meet with leading importers of Southern Bluefin Tuna.

South Australia exported $155.5 million of seafood in the year to August, including $58.4 million of local tuna sold to Japan.

In that same period, South Australian exporters sold a total of $614 million of goods to Japan and $325 million to Korea.

Quotes

Attributable to Joe Szakacs

Increasing South Australian exports, and investment attraction, is a major focus of the Malinauskas Government, which is why this trade mission – my first to Japan and Korea – is so important.

Leading a delegation of industry CEOs demonstrates our state and our Government is committed to working as one team to deliver our ambitious to renewable energy and green hydrogen agenda.

South Australia’s key sectors of growth, including resources, fuels and clean technologies, food, wine and agribusiness represent excellent opportunities for investment from Korea and Japan.

This trade mission is an opportunity to continue developing the significant effort we have put into diversification programs – particularly for wine and seafood – and will provide opportunities to showcase the best premium food and wine products South Australia has to offer.

Attributable to Kane Salisbury, CEO, Hallett Group

Hallett Group is delighted to join Minister Szakacs on this important trade mission.

This is a tremendous opportunity for Hallett group to engage with current and future Korean and Japanese partners to further progress our plans to build a world leading green cement manufacturing hub at Port Augusta powered by the green fuels of the future. Hallett is proud to be a member of TEAM SA!

Attributable to Glen Chipman, Executive Director, Iron Road

Iron Road is pleased to join Minister Szakacs on this important trade mission and welcomes further direct engagement with government and strategic enterprises in Korea and Japan.

As the global steel industry seeks to progressively decarbonise, South Australia’s magnetite Ore Reserves remain well positioned for development. Iron Road is proud to be working alongside the wider SA team and continuing to be an active contributor to both the State Prosperity Project and green iron strategy.

Attributable to Tim Dobson, Managing Director, Magnetite Mines

Magnetite Mines is pleased to be joining Minister Szakacs on this importantly-timed trade delegation with two of Australia’s most respected trading partners. The green energy transition has made it a priority for South Australia to develop its massive magnetite endowment as the foundation for a green iron industry in South Australia.

Collaboration is essential, and by working directly with Korea and Japan’s government and steelmakers, South Australia can support their decarbonisation commitments and at the same time create a new economic growth pillar for the state.

Attributable to David Christensen, Managing Director, Renascor Resources

Renascor is delighted to be joining Minister Szakacs in the upcoming trade delegation.

The South Australian Government has been a strong supporter of energy and resource companies like Renascor, and we look forward to working with the South Australian team as we seek to secure export markets in South Korea and Japan.