Top diplomats from South Korea and Australia met to strengthen collaboration in ensuring stable energy supplies, particularly diesel, amidst global disruptions caused by the Middle East crisis. South Korea’s Foreign Minister Cho Hyun and Australian counterpart Penny Wong agreed on various areas of cooperation, including economic security, defense, and regional stability.
Both countries expressed shared concerns over the Middle East situation and its impact on energy and resources in their joint statement. They reiterated their commitment to enhancing energy resource security, focusing on maintaining a reliable supply of diesel, liquid fuels, LNG, and condensate. Additionally, they pledged to inform and consult each other on potential disruptions and work towards regional cooperation and energy transition.
Australia, a significant LNG supplier to South Korea, and a key provider of condensate and critical minerals, while South Korea is a major diesel supplier to Australia. The ongoing conflict in the Middle East, stemming from US-Israeli strikes on Iran, has disrupted global supply chains, particularly affecting the energy logistics route through the Strait of Hormuz. South Korea, heavily reliant on energy imports, is also a major exporter of refined petroleum products.
During the discussions, Cho and Wong explored opportunities to expand defense industry cooperation, building on the establishment of a South Korean defense firm’s manufacturing hub in Australia. Hanwha Aerospace Co. has been operating a facility in Geelong, Australia, since 2024, producing military equipment like self-propelled howitzers and armored vehicles.
