NSW Minister for Industry and Trade, Anoulack Chanthivong, has returned from a high-level trade mission to Korea and Japan with two major international agreements designed to strengthen the state’s economic ties with two of its most important trading partners.
During the week-long mission, the Minister signed a Memorandum of Understanding (MoU) with Japan’s Urban Renaissance Agency, expanding collaboration beyond Western Sydney to a state-wide partnership focused on investment promotion—particularly in transport-oriented developments and housing.
Meanwhile, groundwork laid in Seoul has resulted in a landmark MoU between Korea’s prestigious Advanced Institute of Science and Technology (KAIST) and the University of New South Wales (UNSW), formalised with Minister Chanthivong as witness. The agreement will foster joint research in biotechnology and mobility, kickstart a startup exchange program, and open doors to industry-academic collaboration in cutting-edge fields.
“These MoUs are about real outcomes,” said Minister Chanthivong. “We’re unlocking global investment, driving innovation, and building the foundation for long-term economic growth in NSW.”
The mission aligns with the NSW Government’s new Trade and Investment Strategy 2035, a 10-year roadmap to grow and diversify exports, attract international capital, and strengthen local industries. Korea and Japan, already major economic partners with $15.9 billion and $28.4 billion in two-way trade respectively, are identified as priority markets under the strategy.
In Tokyo, Osaka and Seoul, the Minister met with business leaders and toured facilities of global players such as Samsung C&T, Hyundai Motor Group, Idemitsu, and Mitsubishi Heavy Industries, all of which are advancing clean energy, manufacturing, and construction technologies.
The visit also reaffirmed long-standing Sister State Agreements with Seoul and Tokyo and included a keynote address to Japanese corporate leaders at the lead-up to World Expo 2025 in Osaka, where NSW is showcasing investment opportunities.
The UNSW-KAIST agreement was particularly welcomed by higher education leaders.
“UNSW is proud to partner with KAIST,” said UNSW Vice Chancellor Professor Attila Brungs. “This collaboration supports innovation in key areas like climate tech and life sciences, while deepening our regional engagement.”
KAIST’s Senior Vice President Professor Kyung-soo Kim echoed the sentiment: “We see this partnership as a launchpad for real-world innovation and globally minded startups.”
Japan’s Urban Renaissance Agency President, Masaru Ishida, also highlighted the benefits of the collaboration: “Our experience in housing and urban development will be valuable as NSW tackles its growth and housing challenges.”
The Minns Labor Government is banking on partnerships like these to power its goals in housing, net zero, and local manufacturing, with Minister Chanthivong stressing the importance of NSW’s global relationships: “We’re doing all we can to unleash the state’s full economic potential.”
You can read the NSW Trade and Investment Strategy 2035 here and the NSW Industry Policy here.
Photo courtesy of NSW Minister for Industry and Trade, Anoulack Chanthivong’s Linkedin post.
