DOWNUNDER UPDATE JULY 2011

July 2011Newsletter of the Australian

Chamber of Commerce in Korea

AUSTRALIANPRIME MINISTERVISITS KOREA

Charity Rugby Dinner Sundowners Breakfast Forums

AUSTCHAM 2011 GOLD SPONSORS

AUSTCHAM 2011 SILVER SPONSORS

I N T E R N A T I O N A L M O V E R S

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TABLE OFCONTENTS

Message from the Chairman

Austcham AGM

Australian Business Awards

Message from the Executive Director

Australia - Free Trade Agreement Update

Prime Minister’s Visit

Rugby Charity Dinner

Austrade Update

ANZA Ball

February 25 Sundowners / March 25 Breakfast Forum

April 24 Kapyoung Visit

April 28 Gold Sponsors Lunch / April 29 Breakfast Forum

May 17 Breakfast Forum / May 27 Sundowners

Q&A with Darren Krakowiak

Community Photos

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July 2011

Designed and printed by 10 MagazineAddress: 10th floor Hannam Building 211 Itaewon-ro, Seou, 140-893

Phone: 02-3447-1610 www.10mag.com

Dear Members, As Chairman of Austcham, it gives me great pleasure to provide you with the half yearly report for 2011. As our Chamber is a relatively new one, we are committed to building frameworks and processes to improve our services to members. As promised at the start of this year, I would like to provide some insight into the board’s road map.

1) Raise the profile of the ChamberProviding great networking and business development opportunities for members and helping them gain access to various channels of government and industry bodies is paramount to us. Raising the profile of the Chamber and taking lead in advocacy issues for members is an important part of our services, and we have recently hired a public relations company to assist in these areas.

2) Frequent communication with membersRegular emails and newsletters will continue to be our core communication method, but other channels including social networking ser-vices, blogging and improving our website are in the works. We wish to keep our members informed on a timely basis, and I hope we can begin a two-way dialogue through various channels in the near future.

3) Procurement transparencyThe board feels strongly about transparency and a decision was made earlier in the year to tender out projects or services that have a value greater than 2 million won. The process involves a sub-tender committee made up of the executive committee, board members and members. We will be focusing on increasing the member participation in the procurement process to provide the level of transparency we need as a chamber.

4) Create efficiency and build capabilitiesWith previous secretariats being run literally from a home office, the board has decided that the permanency of a work office was es-sential for an efficient operation. As a result we are now located in the Kyobo building in Gwanghwamun. Our efforts are in building staff capability and in establishing the secretariat framework so that they can work hard to put in place the infrastructure for the future.

The last six months have been relatively busy with events - including three breakfast forums, three Sundowner networking events, the World Cup Rugby dinner, the ANZA ball and the Battle of Kapyong celebrations. In April we were also very fortunate to hold a gold spon-sers luncheon with Dr. Jae Jean Suh, President of the Korea Institute for National Unification.

Finally, we look forward to another busy second half of this year as we have the Australian Business Awards coming up, more breakfasts, Sundowners and gold & silver member events.

As Chairman, it is an honour and privilege to serve you and I look forward, along with the very energetic board, to continue to serve and provide a meaningful Chamber for you all.

Regards,

Jim LimChairmanAustchamKorea

DownunDer upDate July 2011 | 3

MESSAGE FROM THECHAIRMANJIMLIM

MESSGAEChairman

JANUARY 19, 2011AUSTCHAM AGM

4 | DownunDer upDate July 2011

EVENTREVIEWAGM

On Wednesday January 19, 2011, AustCham held its 2010 Annual General Meeting. Over 50 members of AustCham came out on a chilly but clear evening to enjoy the view from the top floor of the newly renovated Seoul Plaza Hotel.

As always, the AGM began with the official part of approval of last year’s minutes, approval of the budget and announcement of the newly elected board of directors. Then followed a sumptuous buffet, and the evening was rounded out with an address by the patron of AustCham, the Australian ambassador to Korea Sam Gerovich.

As outgoing Chairman, it was my pleasure to welcome guests and go through the official part of the evening which also included intro-ducing our newly appointed Executive Director, Rod Rothwell. Jean Ough then went through the Financial Report for 2010. To wrap up the official proceedings, Martin Walsh, Senior Trade Commissioner and ex officio member of the board announced the election results.

Personally, I would like to thank the outgoing members of the board, Ben Way, Matthew Gurr and Mary-Jane Liddicoat. Ben, Matt and MJ added much to the board and to the chamber through helping to run and organize events, writing for our publications as well as providing guidance and insight on the board.

I also take this opportunity to welcome the newest board members, Graham Dodds, Lachlan Winner and Rob Quinlivan. From very different backgrounds, these gentlemen bring a wealth of experience to the Board.

After dinner, the ambassador addressed the members. His speech included a review of the highly successful G20 summit held in Seoul in 2010, and the plans for the Korea-Australia Year of Friendship, marking 50 years of diplomatic relations.

The evening ended with a raffle to raise funds for the Queensland floods. With meat from MLA and wines from AustCham we raised 700,000 which we passed on to the Queensland Government.

Sean Rodrigues Country Manager Woodside Energy (Korea) Pte. Ltd Woodside Energy Australia Asia Holdings Pte Ltd. Director and Former Chairman AustCham Korea

UPCOMINGEVENTS

AustralianBusiness Awards

AUSTCHAM YEAR OF FRIENDSHIPAUSTRALIAN BUSINESS AWARDS 2011

The AustCham Year Of Friendship Australian Business Awards 2011 Gala Dinner will be held on November 10 at the Grand Hyatt Ballroom from 7pm till 10pm. The awards recognise the significant achievements and contri-butions made by Australian and Korean companies involved in Australia-Korea and Korea-Australia business activities.

Australia and Korea have designated 2011 as the official Year of Friendship in recognition of the 50th anniversary of diplomatic relations between the two nations. AustCham’s 2011 Business Awards will continue to highlight the strength

of the growing links between our two nations by recognising enterprises that have displayed outstanding achievement and acknowledging them publicly at the prestigious annual AustCham’s Business Awards Gala Dinner. AustCham will recognise companies under three award cate-gories; Best Small to Medium Enterprise (SME), Best Services Company and Trade Excellence. In addition, AustCham Korea will award two companies that have exhibited long-term com-mitment and excellence to growing the Australia and Korea business relations with the Investment of the Year Award and the Chairman’s Award.


NOVEMBER 10, 2011

MESSAGEExecutive Director

MESSAGE FROM THEEXECUTIVE DIRECTORRODROTHWELL

I warmly welcome new and old members to the first Downunder Update for 2011. So far it has been a very busy and exciting year for AustCham. In welcoming our new Chairman Jim Lim and his team, we must also be ever mindful of the great energy and commitment shown by Sean Rodrigues and his team during their stewardship.

Since kicking off the year with the AGM we have held very successful sundowners and break-fast forums. AustCham also co-hosted the colossally successful Charity Rugby Dinner with the Kiwi Chamber. Finally we have carried on our strong tradition of supporting students in the Kapyoung area with our middle and high school scholarships.

This year has also marked some large developments internally as we have moved into our first ever permanent office space as well as the appointment of our office manager, Miss Moon Kyung Hee.

Neither our events nor internal developments would have been possible without the dedication of the Board of Directors and the enthusiasm of the wider membership.

In the future we are looking forward to more great events including our gala event, the Year of Friendship Australian Business Awards. Please mark November 10 in your diary for that.

I hope that you enjoy the Downunder Update. I would like to thank all of our contributors and advertisers as well as Stephen Revere, David Carruth and Grace Lee for great design.

All the best and I hope to see you all very soon.

Rod Rothwell

Executive DirectorAustCham


UPDATEEmbassy

Since negotiations for a free trade agreement (FTA) between Aus-tralia and Korea commenced in May 2009 steady progress has been made, with the end of negotiations now in sight. During her April 2011 visit to the Republic of Korea, Prime Minister Gillard agreed with President Lee that negotiations on an Australia-Korea FTA were now in their final stage and the leaders expressed their joint goal to conclude the negotiations this year.

Many sections of the FTA, such as chapters on technical barriers to trade, telecommunications and financial services, are now fully agreed or close to final agreement. Solid progress has been made on goods and services market access but some substantial differences remain to be resolved.

Concluding this FTA is important for both countries. It will deliver real commercial benefits to businesses and further strengthen an already strong and complementary trade relationship. Korea is Australia’s fourth largest overall trading partner with two-way trade worth $30.1 billion (AUD) in 2010.

The Australian government is focused on ensuring this FTA will protect the position of Australian businesses in the Korean market and allow them to build their commercial prospects over time. This is

particularly important in light of the new market openings Korea will be providing to other FTA partners, especially the European Union and the United States.

Australia is looking for the elimination of tariffs on our key agricultural exports, improved quotas for certain products, and better access to the Korean market for our services suppliers and investors. Australia is recognised in Korea as a stable supplier of clean and safe agricul-ture and food products and we are pressing for agriculture market access outcomes no less favourable than those granted to the United States, European Union, and Chile in their respective agreements with Korea.

On agriculture our priorities include beef, sugar, dairy, wheat, malt and malting barley. An FTA is also expected to benefit Australian exports of wine, animal fodder, seafood, sheepmeat and horticulture products. On services, Australia’s finance industry, educational insti-tutions, and professional service and telecommunications suppliers are looking for good outcomes.

For its part, Korea is seeking better market access for sectors such as automotive, a closer relationship on investment, and cooperation in areas such as agriculture, energy and mineral resources.

AUSTRALIA-KOREAFREE TRADEAGREEMENT UPDATE


The Australian Prime Minister, Julia Gillard, visited Korea from 23 to 25 April 2011. This was her second visit to Korea since becoming Prime Minister in June 2010.

Prime Minister Gillard was afforded a very warm welcome to Korea. The visit, taking place during the Australia-Korea Year of Friendship and the 50th anniversary of diplomatic relations, was very successful, highlighting the excellent state of bilateral relations.

The Prime Minister was hosted to a dinner by Dr SaKong Il, chair of the Korea International Trade Association, on behalf of the four major Korean business associations. The dinner, to underline the importance of Australia-Korea trade ties, was very well attended, with over 200 guests, including many senior Korean and other business figures. The Prime Minister delivered a keynote address on Australia-Korea bilateral relations, notably describing the two countries as ‘natural partners’. She also announced that Australia would contribute funds to the Korea-initiated Global Green Growth Institute and join its board.

The Prime Minister held bilateral meetings with President Lee Myung-bak and Prime Minister Kim Hwang-sik. During the meeting with Presi-dent Lee, he said that while he and the Prime Minister had first met only the previous year, he already felt deeply a close, special relationship

with her. The two leaders issued a joint statement on the outcomes of their talks, in which they renewed their commitment to further strength-en the partnership on the basis of shared values, mutual respect and genuine friendship. Notable inclusions mentioned in the statement were the leaders’ reaffirmation of their joint goal to conclude negotiations for the Australia-Korea FTA within this year, to resume a Young Political Leaders Exchange Program and to work towards establishing a regular “2+2” meeting of foreign and defence ministers. They also agreed on the core importance of continued progress on the G20’s agenda, par-ticularly to strengthen the global economy and generate employment.

The Prime Minister was able to join Australian veterans of the Korean War and accompanying family members to commemorate the 60th anniversary of the Battle of Kapyong at the Australia-New Zealand memorial at Gapyeong. She and her partner, Mr Tim Mathieson, hosted a dinner for the Korean War veterans, including several Korean veterans from the Battle of Kapyong. The Prime Minister announced a one-off PhD and executive scholarship program to enable Koreans to study in Australia, as commemoration of the Kapyong veterans’ service. She also announced that a panel would be installed this year at the Australian War Memorial inscribed with the names of those Australian servicemen still missing-in-action in Korea. The Prime Minister and Mr Mathieson joined the veterans, other Australians and New Zealand-ers, and guests from other countries at the ANZAC Day service at the Korean National War Memorial. She also laid a wreath at the Korean National Cemetery in tribute to those Koreans who had fought and sacrificed for their country.

Prime Minister Gillard visited the Joint Security Area at Panmunjom, including the Neutral Nations Supervisory Commission (NNSC) camp where she was briefed on the NNSC’s and UN Command’s roles in helping to maintain the Korean War Armistice. The visit, the first by an Australian Prime Minister, demonstrated Australia’s continuing commit-ment to peace and stability on the Korean Peninsula.

Prime Minister Gillard and Mr Mathieson also participated in the opening at the Seoul Museum of Art of an Australian exhibition entitled Australia-Digital Urban Portraits, being held as one of many events to celebrate the Australia-Korea Year of Friendship, marking the 50th an-niversary of diplomatic relations between Australia and Korea.

PRIMEMINISTER’S

VISIT


UPDATEEmbassy

RUGBYCHARITYDINNER


The Austcham Kiwi Chamber Rugby Charity Dinner held on April 13 2011 at the Grand Hyatt Ballroom was a fantastic event that showed not only the great spirit that exists in the expat community, but also the Korean community’s generosity and willingness to help those who have suffered so much. In one evening more than 105 million won was raised through auc-tions, raffles and donations A kappa haka group welcomed all of the 250 guests which included Sean Fitzpatrick, former All-Black Captain; Eddie Jones, former Wallabies coach; Justin Sampson, rugby commenta-tor; and the night’s M.C., Cha Bum-Kun, Korean soccer hero, as well as the ambassadors of Australia, Japan and New Zealand. There were so many highlights during the evening; a very touching message from Kiwi PM John Key as well as a great message from current All-Black Ma’a Nonu, great games run by Sambo, absorbing comments from Fitzy about what it meant to him to be an All-Black, a heart-melting speech by local artist Jin Lee and then the main event, the auction of fantastic items donated by many, with Adidas and Reebok major supporters on the night. As auc-tioneer, Sambo was brilliant at peaking audience interest. Two tickets to the Rugby World Cup donated by DHL brought in 1.2 million won. A Canterbury Crusaders jersey signed by club and All-Black Captain Richie McCaw went for 4.5, Jin Lee’s sculpture brought in 5.5, All Blacks Jersey’s signed by the team brought in 5.7. Then the two major items came up for auction. The Ultimate Sports Package was subject to intense bidding and finally went for 24.5 million won, the 2002 Fevernova Crystal Ball went for a staggering 39 million won. All of the funds raised at the event were shared between the two Pacific nations devastated by natural disasters this year, Japan and NZ.

UPDATERugby Dinner

WHAT HAPPENS WHEN...

Subway: Line 2 to Itaewon Station exit #2 Go straightand High Street Market is on your left

Line 6 Hangangjin Station exit #1 Go straightand High Street Market will be on your right

High StreetMarket

(2nd floor)

IP BoutiqueHotel

Japan Plaza

Buy the Way

Hangangjin Station

Itaewon Station

Exit #2

Cheil Building제일기획

Hannam-dongCommunity Center

Parking Lot

Exit #1

PARK HERE

HIGH STREET

MARKET

Aussie beef and lamb are always available atthe most competitive prices, cut to yourdiscerning preferences.

Answer: High Street Market- your one stop Deli at wholesale prices!

AUSTRADESEOULUPDATE

Australia Unlimited is the Australian Government’s flagship nation brand, launched by the Minister for Trade, Hon Dr Craig Emerson MP last year. It is an identity that aims to advance Australia’s image in international markets.

The logo is a representation of Australia symbolising growth and expansion. It embraces the best of what Australia is and speaks to the future-focused nature of endeavours and outward-looking approach to global affairs. Many people look at it and see an outline of Australia. Some see arrows. Others will see a variety of symbols. It is the inherent simplicity of the logo that allows people to create their own perspective on Australia. As the lead agency for this project, Austrade has adopted the Australia Unlimited brand identity as its corporate brand. The new brand is applied to all Austrade collateral and events.

ECONOMISTS UPDATE THE STRENGTH OFAUSTRALIA’S ECONOMY AND FINANCIAL SECTORThe second Australian Chief Economist Forum was held in Seoul on 20 May with over 150 representatives of Korean financial companies in attendance. This forum was jointly organised by KOFIA (Korea Financial Investment Association) and Austrade. The purpose of this forum was to increase awareness among Koreans of Australia as a country with significant financial services capability. The Chief Economists of ANZ and CBA banks conducted a panel discussion. Sub-jects covered in the forum included the outlook for Asia and the rest of the global economy, the importance of Asia to Australia, major trends, risks, opportunities for Asia and Australia in the medium and longer term, and the impact on the Australian economy of Japan’s earthquake and tsunami. HK Holdaway, a treasury represen-tative from the Australian Embassy in Tokyo, delivered a presentation on Australian financial regulations.

L-R: HK Holdaway (Minister Counsellor – Treasury, Australian Embassy Tokyo), Michael Blythe (Chief Economist CBA), Warren Hogan (Chief Economist ANZ), Tim Harcourt (Chief Economist Austrade)

NEW AUSTRADE OFFICE IN MONGOLIAOn 23 February 2011, Trade Minister Craig Emerson announced that Austrade would open an office in Mongolia in the second half of 2011. Over recent years Australia’s commercial interests in Mongolia have expanded as the Mongolian government has partnered with foreign investors in the opening of some world-scale mineral deposits and energy resources. Apart from leading investors such as Rio Tinto and a number of ASX listed “junior miners”, there is a growing number of min-ing sector service providers entering the Mongolian market. Opportunities exist also in the vocational training, financial services and professional consulting fields.

AUSSIE COMPANIES INDULGE VISITORS AT SEOUL FOODAs part of the “Year of Friendship” calendar of events, more than 25 Australian food and wine exporters recently participated in the largest food exhibition in Korea – Seoul Food 2011. Austrade with the state governments of Queensland, Western Australia and Victoria supported participants. Austrade Seoul organised a seminar alongside the exhibition which focused on the dairy and grain industries. Ninety repre-sentatives from Korean companies attended the seminar, owing to an increased demand for dairy, meat and grain products. The seminar was followed by a networking dinner for all exhibitors and Korean buyers.

For more information, visit www.austrade.gov.au/korea tel: 02 398 2800

Australia Unlimited branding used in the Seoul Food Show 2011

Ambassador Gerovich meeting with Mongolia’s Minister for Mineral Resources and Energy, Mr D. Zorigt on a visit to Ulaanbaatar in May 2011

AUSTRALIA UNLIMITED - AUSTRALIA’S NEW NATIONAL BRAND


UPDATEAustrade

Held in the Grand Ballroom of the Grand Hyatt Seoul, the OCEANS 11 Ball, presented by major sponsor Macquarie Group was packed with everything you would expect from a 1960’s casino and lounge in Vegas.

Arriving, you entered the Macquarie Lounge, a stylish faux casino theme with the Agility Bar (sponsored by Agility, Logistics) roulette wheels, poker tables and prize wheel for the avid gamblers to enjoy. A fabulous jazz band kept others entertained while they enjoyed the orange Agility and Diageo cocktails at the bar.

It all unfolded at 8pm when the doors opened to reveal a theatre style setting with raised seats for those privileged to have back row seating, and neon signage from another major sponsor, MLA (Meat & Livestock Australia). The scene was eloquently set, with a welcome message by Australian Ambassador Sam Gerovich, New Zealand Ambassador Richard Mann, and the hosts for the evening, Sue Meldrum (ANZA Korea President) and John Walker (Chairman, Macquarie Group Korea).

The stage was the central focus of the night, because it was dinner and show time, reminiscent of the days when the original Rat Pack

(Dean Martin, Frank Sinatra and Sammy Davis Jr.) would take to the stage back in the 60’s. And the audience was not disappointed. Direct from Australia, The Rat Pack’s Back, a trio of extremely talented men, Dale Burridge, David Malek and Derek performed songs such as “Mr Bojangles”, “My Way”, “World on a String”, ac-companied by ANZA Vice President/Ball Chair Stacey Evans and many others. It was a true performance of international standards, and a number of guests including ambassador for Australia Mr Sam Gerovich’s wife Celia Gerovich danced with the band.

The ball raised funds in excess of 50 million won, which will be utlilised throughout the year to support much needed charities in the Korean community.

ANZA Korea will play host to another exciting event, the Melbourne Cup Lunch on Tuesday 1st November, 2011, at the Grand Hyatt Seoul. An iconic Australian race day which is now part of the international racing calendar, this is one of the richest race days in the world.

ANZA Korea will also be organizing a BBQ after summer break in September for ANZA families to enjoy. More details to come!

ANZA INAUGURAL BALL 2011

ANZA Korea held its inaugural ball titled “OCEANS 11” on May 30, 2011 and it was a great success!


EVENT REVIEWANZA Ball

FEBRUARY 25, 2011SUNDOWNERS

On Friday, February 25, AustCham held its first Sundowners for 2011. The very successful event was held at the Oak Room of the Millennium Hilton. It was wonderful to see more than 50 members and guests enjoyed freshly cooked Western Australian meat pies from Jesters Pies Korea, the freshness that West-ern Australia offers, as well as a sumptuous buffet provided by the Hilton. Being the first Sundowners for the year, it was a great chance for AustCham members and their guests to get reacquainted after a long winter, while enjoying great food and great Australian music. The entertaining evening was made even better with a raffle to raise funds for the victims of the Christchurch Earthquake. The prizes were meat packs generously donated by MLA. The raffle raised in excess of 700,000KRW. I hope to see all of you at the Sundowners and other events throughout the year.

MARCH 25, 2011BREAKFAST FORUM

On Tuesday, March 29, Alan Timblick, head of the Seoul Global Centre, was the featured speaker at the first AustCham Breakfast Forum for 2011. Alan’s highly entertaining address to thirty-five members and guestscovered three major topics: Alan’s recollections over his 34 years in Korea, the role of the Seoul Global centretoday, and the Seoul Metropolitan Government’s plans for the SGC Alan’s witty and poignant recollections covered the major events he had witnessed in Seoul, for example theaftermath of President Park Chung Hee’s death, as well as the everyday, including voluntary road rules andillegal taxis. Alan’s second topic was the need for and role of the Seoul Global Centre. With 600,000 non-Korean nationals now living in Seoul there is obvi-ously an immediate need for the Seoul Metropolitan Government to provide such services. The centre, which was opened in 2008, provides business people, residents and migrant workers a wide range of services to make doing busi-ness in Seoul easier, provide assistance for day-to-day issues, and promote cultural exchange. Finally Alan gave a glimpse into the future with the Seoul Global Centre Building currently under construction next to Jonggak subway station. Alan’s speech was both enlightening and entertaining and was a great way to kick off Austcham’s breakfast forums for 2011

Mr Jean Ough AustCham Director & Representative Government of Western Australia Trade and Investment Office Korea


EVENT REVIEWSundownersBreakfast Forum

Mrs. Young Cheigh President International Legal ConsultantAsk Law Moon Patent & Law Firm

APRIL 24, 2011 KAPYOUNG VISIT

For many years now, it has been the practice of the Chamber to award Battle of Kapyong (Gapyeong) Commemorative Scholarships to schoolchildren of the Gapyeong Valley, the site of a major engagement for Australian and New Zealand units during the Korean War. The scholarships in a very practical way serve as a living memorial to those Australians who lost their lives in the Korean War and the Chamber support helps perpetuate their memory while helping needy children. Depending upon the number of scholarships available, the Gapyeong High and Middle Schools select children as recipi-ents based on their academic ability and economic need. This year is the 60th anniversary of the Battle of Kapyong and in recognition of the significance of the battle in which 32 men of the 3rd Battalion of the Royal Australian Regiment lost their lives, Prime Minister of Australia, Julia Gillard, as well as the Australian Chief of Army, Lieutenant General Ken Gillespie AO DSC CSM, attended the Sunday, 24th April morning memorial service at Gapyeong. There was also a larger than usual contingent of Commonwealth veterans attending, supported by serving members from the Australian Army, New Zealand Army, South Korean Army and a visiting British military band. In total the attendance figure was ap-proximately 300, a marked increase on previous years. In support of this special anniversary, the Charity Sub-Com-mittee recommended and the Chamber Board approved that the Chamber provide eight sponsorships for the year 2011, up from the four sponsorships provided in 2010.

Mark Redmond Chairman Charity Sub-Committee AustCham Board Member Senior Client Partner & Co-Founder


EVENT REVIEWKapyoung Visit

APRIL 28, 2011GOLD SPONSORS LUNCH

On Thursday 28th April 2011, AustCham hosted a working lunch with Dr. Jae Jean Suh, President of the Korea Institute for National Unification. Dr Suh gave a presentation on “North Korea’s Situation.” Dr Suh’s comments on North Korea’s attempt and failure to reform prove that while there is such innate force to reform, under the current regime, it will be deterred by the ruling power. However, the existence of a dual society - official and unofficial - proves that the reform effort is resilient and that such formidable resilience is driven by North Koreans’ desire to be fed. Dr. Suh’s other argument, which identified the North’s threat to develop nuclear weapons as well as last year’s military provocation (Cheonan and Yeonpyeong attacks) as a main leveraging tactic used to gain foreign food aid, points to the seriousness of food shortage in the North. He also remarked that a civil war within North Korea would be highly unlikely when Kim Jung Il dies. It’s clear that South driven reunification of the Korean peninsula will be much more difficult than what Germans had to go through and many Koreans believe (including myself) that it would take decades before the two can reunite but I was surprised to hear Dr Suh commenting that this could happen in 10-15 yrs. If it does happen then my mother’s dream would come true: visiting her birthplace in the North. As a Korean-American the session was very informative and as a Gold Sponsor I would like to get involved in more upcoming functions to meet other members of AustCham and get to know each other. Jeff Bang is Rio Tinto’s Ferrous Materials Representative

APRIL 29, 2011BREAKFAST FORUM

On Friday 29th April 2011, AustCham hosted a breakfast forum on “Happy Marriages? Investments in Australia” and welcomed guest speaker Dave Poddar, Partner and Head of Competition/Anti Trust practice at Allens & Overy Australia.

David was in Korea to promote closer ties between Australia and Korea from the legal perspective of the Foreign Investment Review Board (FIRB) and to discuss the current climate of foreign investment in Australia. David noted that the purpose of his trip was to clarify, from past experience in this field, the laws related to foreign investment.

He spoke concisely upon such topics as why Australia is so welcom-ing to Korean investments and how to be better streamline the FIRB process. He de-mystified some of the more well-publicized failures of foreign investment in Australia and highlighted some areas of growth in the years ahead.

One key piece of advice David emphasized was that the Australian government should be contacted as soon as possible about any impending major investment in Australia. This will ensure a more welcoming mindset from Governments.

As a foreign lawyer in Korea and a Director of AustCham I gained a wealth of knowledge from Dave’s presentation and found that this breakfast forum was well worth attending. I hope to see many more members attending our next breakfast forum.

Lachlan Winner Director AustCham Korea and a Senior Associate at J & S Law Firm


EVENT REVIEWGold Sponsors LunchBreakfast Forum

MAY 17, 2011BREAKFAST FORUM

MAY 27, 2011SUNDOWNERS

As we were finishing our delicious Australian beef breakfast, Ms. HK Holdaway, Senior Treasury Representative walked up to the podium. Having been seconded to the Korean government to assist with orga-nizing the G20 Summit last year, Ms. Holdaway shared her insider’s perspective on the G20 Summit. This was the scene of the AustCham Breakfast Forum on the morning of 17 May, 2011.

At the Breakfast Forum, Ms. Holdaway described graciously and eloquently what she had learned as a special advisor to the Korean Presidential Committee, which was responsible for organizing the 2010 G20 Summit held in Seoul.

HK covered (i) the general shift in the world economy, which had set the stage for the G20 Summit, (ii) her interaction with native Koreans while organizing the G20 Summit together, and (iii) the importance of team work and relationship, which were needed for the successful hosting of the G20 Summit.

Mr. Hyun Wooyoung is a Foreign Legal Consultant at Kim & Chang.

Every month the AustCham Sundowner proves that networking need not be the choremany think it is. On May 27 AustCham and The Kiwi Chamber co-hosted a great event hat provided a relaxed space to meet an amazing range of people inspired by business possibilities in Korea.

The moody, urban ambiance of the restaurant’s private nightclub, with its tasty selection of finger food and great selection (as always) of Aussie and NZ beverages, created an atmosphere that no one wanted to leave. We watched (other) people win prizes, and listened to AustCham Chair Jim Lim wax lyrically about Aussie and Kiwi comparative market shares.

So if you’re looking to generate more in your business and your life in general, come along to the next Sundowners at the Loca Loca bar in Itaewon on lyrical and try out these questions:What’s fun and rewarding for you right now? (then listen - you might learn something)What do you know (that I don’t know), and what do I know (that you don’t know), that together could create something that neither of us could have imagined individually?

I have no idea what response you will get. At least you’ll have an opening line most people won’t have heard before. And who knows, you might get lucky.....in business at least.

Mary-Jane Liddicoat is a former Australian diplomat and was a Director on the AustCham Board until 2010. Mary-Jane lives between Seoul, Korea and New South Wales, Australia, with her Korean sculptor husband and their three children aged seven, six and two.


EVENT REVIEWBreakfast Forum

Sundowners

How did you come to be in Korea working for Jones Lang LaSalle?I joined Jones Lang LaSalle in Melbourne in 2005. In 2007 I was lucky enough to be offered a position here. I flew over and James Tyrrell hosted me for a few days, I liked what I saw, and I am still here four years later.

We live in a fascinating and 24-hour city – what do you enjoy most about living in Seoul?I reckon the best thing is that there is always something happening. If I go down to the shops to get some milk on Monday at 10.30pm there’s still a lot of hustle and bustle on the streets. Also as many of expats are away from family and their usual circle of friends, it’s great how people band together. For example at Christmas people come together and share the Christmas spirit.

You have been here for around 4 years – when you go back to Aus-tralia, is there anything about Korea you would like to take back?The ability of Koreans to get things done quickly. Back home they talk about building a new train line or something and nothing happens. Here, they announce it, start building it and before you know it’s finished!

What do you do for Jones Lang LaSalle?I am the head of markets for Korea, with responsibility for the firm’s commercial office leasing and tenant representation businesses. Some of key projects we’re working on right now are Centre 1 and Jongro Place.

What makes working in the Korean market challenging?First, I think one of the biggest challenges is balancing the priorities of

the local office with the regional or global requirements of our clients. Secondly, there are disparate business and social customs compared with Australia. Rising to those challenges is what makes working here so much more interesting and rewarding.

Would you like to share any tips about building a strong network in Korea?Don’t be afraid to pick up the phone and call someone you don’t know! Also, remember that although our Korean business partners don’t expect us to be Korean, they do value respect and a personal relationship. So, respecting local customs and finding some common ground can go a long way.

Jones Lang LaSalle has been a long time member of AustCham. What are the major benefits for you and the company?Definitely visibility and access to its network of business professionals is the most important thing.

Are there any particular events that you believe were very special?The Australian Business Awards last year was a great event. Jones Lang LaSalle was nominated in the Best Service Company category; even though we didn’t win, it has great to participate. It was a great evening that was very professionally run. Although it wasn’t an AustCham event, the KITA dinner with the Prime Minister in April this year was also pretty special as I got to meet and have a photo with the guest of honour!

And finally four fast questions

AFL team and why?Carlton. Why? Because they’re true blue.

The place in Australia you most want Koreans to know about?I think it would be good for people to know about Uluru.

What place in Korea should every expat know about to enjoy Korea?Seoraksan – really beautiful scenery, good hiking and nice beaches with Sokcho close by.

Favorite Korean place?I am quite partial to an after work drink at the round bar in the lobby of the Grand Hyatt.

INTERVIEW WITHJONES LANG LASALLE’SDARRENKRAKOWIAK


QUESTION& ANSWER

Talk about an amazing start to the day. We got up for the sunrise

but stumbled across something we’ ll never forget. The hilltop

was alive with more kangaroos than I ’d seen in a lifetime.

We spent the afternoon roaming the island for wildlife, taking pictures of penguins, seals and a whole bunch of birds we’d never

even heard of. At times I didn’t know whether to take another picture or stop and take in the surroundings. I guess that’s just the type of place it is. But really, the pictures only begin to tell the story. To truly experience this land of ours you’ve just got to

come and discover it yourself.

There’s nothing like a zoo without fences.

TA0171_Kangaroo_Island_210280.indd 1 11. 07. 12 �� 4:30


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DOWNUNDER UPDATE JULY 2011

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