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Darwin Sees Closer Ties With South Korea

Darwin is perfectly positioned as a gateway into Asia, and this week, the Northern Territory's government has taken steps to increase the state's ties with South Korea.

Emerging as a strong market for future trade and investment into the Northern Territory, South Korea is an exciting partner for the state to have.

Residents of property in Darwin will benefit from future economic development in the area which may see increased investment from South Korea in coming years.

Minister for Mines and Energy Willem Westra van Holthe said the Korean Ambassador to Australia, His Excellency Mr Bong-hyun Kim, and a high level South Korean business delegation were introduced to a raft of local mining companies in the state.

The companies are currently seeking foreign investment.

Growing trade and investment links between the state and South Korea will be formalised in an official Memorandum of Understanding on trade early next year, according to Chief Minister Adam Giles.

"The Territory government is working with the Chamber of Commerce to introduce local manufacturing companies to top-tier South Korean contractors, such as Samsung Heavy Industries, to help our local companies secure lucrative repair and maintenance work for these modules and facilities," he said.

This may increase jobs in the state, which is good for anyone considering investing in real estate in Darwin as there may be a bigger pool of tenants available to fill properties.

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