Auckland (The NZ Today)
New Zealand and South Korea are looking to broaden their economic partnership beyond traditional trade, with artificial intelligence (AI), energy, infrastructure and technology emerging as key areas for future cooperation.
More than 150 government officials, business leaders, exporters and industry experts attended the fourth Korea–New Zealand Smart Cooperation Forum at the Grand Millennium Auckland on Thursday.
Held under the theme “Smarter Together: Advancing Korea–New Zealand Innovation and Partnership”, the forum was organised by the Korea New Zealand Business Council (KNZBC), together with the Embassy of the Republic of Korea in New Zealand, the Ministry of Foreign Affairs and Trade, and New Zealand Trade and Enterprise. The Asia New Zealand Foundation was the principal sponsor.
New Zealand Minister for Trade and Investment Todd McClay said South Korea was New Zealand’s fifth-largest trading partner, with two-way trade having grown by more than 130 per cent during the first decade of the bilateral free trade agreement to exceed NZ$10 billion.
He said the Government would intensify efforts to promote New Zealand exports in the Korean market. Discussions also covered a potential upgrade of the Korea–New Zealand Free Trade Agreement and ways to strengthen economic security and supply-chain resilience.
Labour’s spokesperson for Trade and Export Growth, Damien O’Connor, highlighted the importance of the relationship to New Zealand’s energy security, noting that around half of the country’s fuel came from Korea.
New Zealand exporters were encouraged to look beyond established dairy and food exports and explore opportunities in premium health and wellness products, wine, mānuka honey and specialised technologies serving Korea’s semiconductor, shipbuilding, defence and space industries.
Richard Dunsheath, New Zealand Trade and Enterprise’s trade commissioner to South Korea, said the market offered significant opportunities for businesses prepared to invest time and build lasting relationships.
Business representatives stressed that entering the Korean market was only the first step. Maintaining consistent quality, competitive pricing and reliable service was essential to securing repeat orders. They also highlighted the importance of local knowledge, trusted introductions and long-term partnerships.
Energy and infrastructure were another major focus. Participants discussed how Korean industrial and engineering expertise could support New Zealand’s energy transition, including electricity grid infrastructure, low-carbon steel production and alternative industrial materials.
The forum also examined opportunities to connect Korea’s strengths in semiconductors and AI infrastructure with New Zealand’s innovation sector and renewable electricity generation. New Zealand generates around 85 per cent of its electricity from renewable sources, while Korea has capabilities spanning the AI technology chain, from chips to models.
Speakers identified AI skills, affordable access to technology and responsible governance as important considerations as both countries expand their use of AI. Collaboration between businesses, researchers and investors was seen as a way to turn complementary strengths into practical commercial opportunities.
The forum highlighted the role of people-to-people connections in strengthening bilateral ties. Research presented by the Asia New Zealand Foundation showed that 61 per cent of New Zealanders regarded South Korea as a friend or close friend, up from 47 per cent in 2019. However, only 23 per cent said they knew a fair amount about Korea, suggesting room to deepen public understanding alongside growing cultural interest.
A dedicated women’s leadership session brought together women from politics, business and professional services to discuss leadership, diversity and the value of different experiences in decision-making.
KNZBC chair Gareth Coleman said the relationship advanced when people took the time to understand one another, a principle at the heart of the council’s work.
He announced plans for a New Zealand trade delegation to visit Korea in 2027. The council is also working towards resuming annual joint business meetings with Korean counterparts from 2028, when KNZBC will mark its 50th anniversary.
Founded in 1978, KNZBC promotes trade and investment between the two countries by connecting businesses, government and communities.
The forum reinforced a shared ambition to build on the free trade agreement and translate existing economic and cultural links into deeper cooperation in technology, energy and emerging industries.
About the Author
Dr Choontae Park is a former university dean and a New Zealand-based Korean journalist and columnist.
