Fed: SKorea president sees hi-tech future for trade with Aust

AAP General News (Australia)
12-07-2006
Fed: SKorea president sees hi-tech future for trade with Aust

By Belinda Tasker

SYDNEY, Dec 7 AAP - New high-tech digital gadgets for the movie world and electronic
games industry could be the key to Australia expanding its trade ties with South Korea.

South Korea's president Roh Moo-hyun today flagged Australia and the republic could
tighten their $18 billion-a-year trade relationship by getting their researchers to come
up with a range of new digital technologies.

Trade between the two countries has been traditionally based on South Korean whitegoods
and cars and Australian resources such as coal plus beef and wheat.

Mr Roh believes both countries now should join forces to become major players in developing
a range of digital imaging devices.

"Korea stands at the top in the world with the digitalized mobile broadcasting and
micro mobile broadcasting technologies," Mr Roh, through an interpreter, told an Australian-South
Korea business summit in Sydney.

"If we cooperate in this area, I believe we will together move more into the international
market, specifically in the movies and games industries.

"If our two countries cooperate we'll ... develop a higher level of technology (which)
I firmly believe we will be able to produce more successful cases in the world market."

South Korea's telecommunications industry is behind the groundbreaking Wi-BRO (wireless
broadband) devices which allow people to watch TV in subways, cars and on the street.

It also has an enviable reputation as a world leader in the use of information and
communications technologies such as high-speed broadband internet services.

The president's remarks came as his Communications and Information Minister Jun-hyong
Rho met with his Australian counterpart Helen Coonan in Adelaide today at the third Australia-Korea-New
Zealand Broadband Summit.

South Korea is Australia's fourth largest trading partner.

Currently, the trade relationship weighs in Australia's favour with about $11.8 billion
worth of goods and services exported to South Korea each year.

Readdressing the trade imbalance is something the South Korean president is keen on.

Trade ties between the two countries were high on the agenda for Mr Roh when he held
talks with Prime Minister John Howard in Canberra yesterday.

The two leaders have agreed to explore the potential benefits of a free trade agreement,
with feasibility studies to begin next year.

Meanwhile, NSW Premier Morris Iemma, who attended the business summit with Mr Roh,
said his government was in the process of designing a new monument for Australian and
South Korean soldiers who fought in the Korean War.

Mr Roh, the first Korean president to visit Australia since Kim Dae-jung in 1999, leaves
later today for New Zealand.

AAP bt/klw/it/nf

KEYWORD: KOREA AUST NIGHTLEAD

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