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Message from the Chair

The first half of 2016 has been a great success for AustCham Korea, with promising progress and many developments, alongside numerous successful events hosted already this year. I would like to start the first newsletter of 2016 by extending a warm welcome and many thanks to AustCham’s new members and those who have stepped into new committee roles this year: Michael Chang - Doing Business in Korea (DBIK), Daniel Kim - Membership, Scott Walker – Events, Paul Schofield  – Compliance, Diana Underwood - Communications. On behalf of the AustCham board I would again sincerely thank all these participants for filling these roles.  
Graham Dodds,
President and Country Manager, ExxonMobil
& Austcham Korea Chair

AustCham Updates

1. New executives and Committee Chairs
AustCham would like to welcome and thank those members who are new to the Board this year, as well as those who have stepped into new roles. The updated Executive roles and Committee positions are outlined below:
  • Executive Committee:
    • Chair - Graham Dodds
    • Vice chair - Craig Pasch & Scott Walker
    • Treasurer - Jean Ough
  • Doing Business in Korea (DBIK):  Michael Chang
  • Membership: Daniel Kim
  • Events: Scott Walker, Martin Giles & Kylie Wallbridge
  • Communication: Diana Underwood
  • Compliance: Paul Schofield 
 
2. Member Updates
AustCham is pleased to welcome The Bridge Korea as a new corporate members this month: 
The Bridge Korea is a Korean company that specializes in the import and distribution of international beer including many classics such as Tiger Beer of Singapore and Tasmania's James Boag.
 
3. Australian Federal Election 
The Australian Federal Election will take place on Saturday 2 July. The Embassy of Australia, in Seoul, is providing pre-poll and Election Day voting services. To vote in-person you will need to bring your current Australian passport as identification. 

Pre-Poll Voting: 9:00AM - 4:30PM, weekdays between the 22 June and 1 July.  

Election Day Voting: 9:00AM - 3:00PM, 2 July.

If you are unable to visit the Embassy than it is suggested you apply for a postal vote, applications for which may be submitted online at the Australian Electoral Commission website (AEC). Please note that postal voting applications must be received  by 29 June.

General election and voting information may be found on the Australian Electoral Commission website, however for questions regarding voting services in Korea you can contact the Embassy on +82 2 2003 0100.

Upcoming Events

Wednesday 22 June, 7:00pm - 9:30pm
After a fantastic first round State of Origin Game 2 is coming up once again to be hosted at 3-Alley, Itaewon. Entry includes an Aussie Burger and VB Beer, with an all-night special on VB for ₩4,000 & Kozel for ₩3,500. There are also lucky draw and raffle prizes on offer. All proceeds from the night will go to Korean charities. To see the flyer click the title or link below.
 
Venue: 3-Alley, Western Restaurant & Grill, Itaewon
Cost: ₩20,000
Link: 2016 AustCham State of Origin Fundraiser - Game 2
Contact: admin@austchamkorea.org | 02-766-9590
Thursday 23 June, 6:30pm - 9:00pm
As part of our Doing Business in Korea (DBIK) series, AustCham presents this seminar & networking event focused on the integration of social media and digital technology for business promotion. Featured presenters include Area Programs Manager of USO Korea, Stephen Revere; President of the Korea Office for Unicoi, Allan Kim; and industry-leading social media enterprise, Twitter. Topics to be addressed include: how, why and when to use social media/digital technology in brand promotion; using Facebook and Twitter effectively in business; as well as social media do's and dont's.

Sponsored by Robert Walters & Wilson Parking

Venue: HJ Convention Center, Gangnam Area, Seoul
Cost: Members: ₩35,000 | Non-members: ₩45,000
RSVP: http://goo.gl/forms/2Q4EiWoDzy2HdLWT2
Link: How to Use Social Media to Optimize your Business
Contact: admin@austcham.org | 02-766-9590
Tuesday 12th of July, 7:30am - 9:00am
Anti-Bribery Seminar: Anticipation of the Implementation of the New Anti-Bribery Laws
The next instalment of AustCham's Doing Business in Korea (DBIK) will be a breakfast seminar focused on the business implications of South Korea's anti-bribery legislation to be rolled out in September. The morning will cover an overview of the relevant laws, who they target, prohibited acts, issues for companies, comparisons with other jurisdictions as well as case studies & safeguards. More details to follow.

Venue: Namsan Room (3/5), Grand Hyatt, Seoul
Cost: ₩40,000 Member | ₩50,000 Non-Member
Link: Anti-Bribery Laws Breakfast Seminar
Contact: admin@austcham.org | 02-766-9590
Friday 22nd of July, 7:00pm - 9:00pm
Christmas in July & AustCham's Farewell to the Ambassador
At the halfway point of the year, it is once again time  uphold a great Australian tradition - Christmas in July! This year the occasion will also mark AustCham's farewell to Ambassador Bill Patterson. 
More details to follow soon. 

Venue: The Australia Center, Kyobo Building 
Contact: admin@austcham.org | 02-766-9590

Business News & Developments from Korea

News by Pulse, Maeil Business News Korea

BOK Rate Hits All-time Low | 2016.06.09
The Bank of Korea (BOK) has made its first interest rate move in a year, cutting the base rate by a  quarter of a percentage point to 1.25 percent. This marks the lowest base rate ever set and follows in the wake of sluggish exports, slowing GDP growth and fragile domestic demand.
The South Korean Government and Bank of Korea are set to create a joint fund of 11 trillion won ($9.5 billion) for temporary loans that will support the shipping industry and other troubled sectors until the end of 2017.

S. Korea to Liberalize Utilities & Downscale Off-Shore Resource Development | 2016.06.14
The South Korean Government is set to reorganize 29 public institutions, part of wide public sector reform, which may see incremental liberalization of the utilities sector as well as a halt to overseas resources development.

Samsung Heavy Industries to Cut Workforce by 40% | 2016.06.15
Samsung Heavy Industries Co. is preparing for severe austerity and cutbacks that could reduce its current workforce by up to 40%. The the shipbuilder's workload has more than halved, compared with recent years, with projections indicating  that its earnings will see a similar reduction.

Asia's Top 1000 Brands Rankings Released | 2016.06.17
"2016 Asia's Top 1000 Brands", a joint survey by Campaign Asia-Pacific & Nielsen, has released its results on consumer brand perception in 13 Asian countries including Australia, China, Hong Kong, Korea and Japan. Samsung, front-runner since 2012, came in again at number 1 followed by Apple Inc, Sony Corp., Nestlé S.A., Panasonic Corp., Nike Inc., LG Electronics Inc. & Canon Inc.

Korea & India to Upgrade Free-Trade Agreement  | 2016.06.19
The Ministry of Trade, Industry and Energy has released its bi-lateral decision with India that the Comprehensive Economic Partnership Agreement (CEPA), which took effect in July 2010, will under go revision in an attempt to expand both countries' economic presence in each others' markets.
 
All these stories & more available at: pulsenews.co.kr
 

Events Calander 

June 23rd

Past Events

Australia & Korea Soccer Night - Click link for story & photos.
State of Origin Game 1 - Charity Fundraiser
 An enthusiastic & noisy AustCham crowd enjoyed Game 1 at 3-Alley on June 1st. Chef Wayne's famous Aussie burgers were a big hit and almost ₩500,000 was raised for Korean charities. 
Financial Reform in Korea - Click link for presentation notes.

Office News & Promotions

The AustCham office has moved to the Gwanghwamun Officia Building. Visitors Welcome! See bottom of page for address.
Best Semester Abroad Opportunity:
Students can win 5 months in Brisbane, Cairns or the Gold Coast.
More Information.
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