Chairman Jang In-hwa proposed strengthening the supply chain by combining Australia's resources with Korea's refining and processing technologies, stating that critical minerals hold significant potential as a new growth axis for bilateral industrial cooperation. ^[1] POSCO Chairman Jang In-hwa attended the 47th Korea-Australia Economic Cooperation Committee annual joint meeting in Adelaide, Australia, on 2026-04-02 as the Korean side's committee chairman. ^[2] POSCO Group is operating a lithium hydroxide production plant at the Yulchon Industrial Complex in Gwangju, South Korea, in a joint venture with Australian mining company Pilbara Minerals. ^[3] The meeting included over 200 government and business leaders from both countries, including Australian Foreign Minister Penny Wong, Trade and Tourism Minister Don Farrell, and Korea-Australia Economic Cooperation Committee Chairman Martin Ferguson. ^[4] Australia supplies about 70% of POSCO Group's raw material procurement, and POSCO has imported more than 1.5 billion tons of Australian raw materials since 1971, including participation in the Roy Hill iron ore mine development in 2010. ^[5] Chang In-hwa said in his opening remarks that critical minerals will be a new growth axis for Korea-Australia industrial cooperation and that combining Australia's resources with Korea's smelting and processing technology will strengthen supply chains. ^[6]