Honouring Australian Sacrifice and Deepening Ties
Albanese began his trip by visiting a war memorial to honour Australian soldiers who served during the Korean War. He noted that over 17,000 Australians had fought as part of the UN forces, and he met with Korean veterans to pay mutual respects. The Prime Minister described it as a moment of reflection and gratitude for the sacrifices made in pursuit of freedom and democracy.
Key Diplomatic Dinner and AUKUS Dialogue
The Prime Minister attended an informal dinner hosted by the President of Korea, which also included leaders from the United States, Canada, New Zealand, Thailand, Singapore, and Vietnam. The gathering provided an opportunity for informal but meaningful discussions among the participating nations.
Albanese shared that he and U.S. President Donald Trump discussed reinforcing the AUKUS partnership and advancing defence and economic cooperation. The dialogue also covered critical minerals and rare earth supply chains, areas seen as vital for Australia’s future economic and strategic resilience.
Strengthening Economic Partnership with POSCO
One of the highlights of the day was the Prime Minister’s planned visit to POSCO, Korea’s steel giant and Australia’s single largest commercial partner. POSCO alone accounted for $18.2 billion worth of Australian exports last year, primarily from Western Australia, Townsville, and Victoria.
Albanese emphasised that such trade relationships directly translate into Australian jobs and regional development. “Every tonne of iron ore and every shipment of minerals reflects the strength of our economy and our global engagement,” he said, underscoring that partnerships like POSCO’s play a crucial role in maintaining Australia’s prosperity and stability.
Encouraging Constructive US-China Relations
As Presidents Trump and Xi prepared to meet during the summit, Albanese expressed optimism about easing global trade tensions. He noted that a productive relationship between the world’s two largest economies would benefit all nations, particularly those reliant on open markets and fair trade.
He added that Australia’s trade relations with China had improved significantly in recent years, with many restrictions removed, boosting exports in agriculture and services. “We want to see cooperation, not confrontation,” he said, reinforcing Australia’s position as a supporter of free and fair trade.
Clarifying Australia’s Stance on Defence Cooperation
When questioned about the United States’ plan to share nuclear submarine technology with South Korea, Albanese made clear that Australia’s AUKUS partnership remained secure. He dismissed suggestions of any negative implications for Australia, reiterating that the trilateral agreement with the United States and the United Kingdom continues to serve the nation’s best interests.
“Our arrangements are in Australia’s national interest,” he said, confirming that President Trump had repeatedly affirmed his full support for AUKUS and its accelerated implementation timeline.
Position on Taiwan and Trade Policy
Albanese reiterated Australia’s consistent position on Taiwan, supporting the One China policy while rejecting any unilateral action that could destabilise the region. On global trade, he reaffirmed Australia’s commitment to open markets, noting that protectionism and tariffs ultimately hinder growth. “Australia stands for free and fair trade that benefits all,” he said.
Australia’s Global Role and Regional Peace
Reflecting on global dynamics, the Prime Minister acknowledged ongoing strategic competition but described the current diplomatic engagements as promising. He emphasised that peace and economic cooperation across the Indo-Pacific remain central to Australia’s national interests. Over 75 per cent of Australia’s trade, he highlighted, is with APEC members—making participation in such forums vital for jobs and economic growth.
Foreign Minister Penny Wong also joined the delegation in Korea, engaging in high-level talks with regional counterparts. Albanese said the summit and related bilateral meetings provide opportunities to strengthen alliances and economic links that contribute to a stable, prosperous region.
Focus on Economic Growth and Regional Stability
Concluding his remarks, Albanese stressed that every international visit he undertakes aims to create jobs and enhance security for Australians. His discussions with world leaders in Gyeongju are expected to further reinforce Australia’s position as a trusted partner in both economic and strategic cooperation.
With the APEC Summit continuing and further bilateral engagements scheduled, the Prime Minister said he remained focused on promoting peace, stability, and opportunity for all nations involved.