City proposes MOU with Korean city

THE City of Greater Geelong will proceed with a proposal to form a Memorandum of Understanding (MOU) with a city in South Korea focused on trade, education and cultural exchange, and provide opportunities for Geelong region organisations and community to benefit.

Changwon City, which approached the Greater Geelong requesting an MOU, is home to the Hanwha Corporation and its subsidiary Hanwha Defence Australia (HDA).

Changwon City is an industrial and manufacturing hub with a population of about 1.2 million on the southeast coast of the Republic of South Korea.

HDA has just been confirmed as the provider for the Commonwealth’s $1 billion Land 8116 project to build and maintain self-propelled artillery and ammunition resupply vehicles, and will base its operations in Geelong.

The company is also one of two companies in the running to build infantry fighting vehicles for the Australian Defence Force under the Land 400 contract.
As well as Hanwha, the South Korean port city is also home to major global manufacturers including LG and Hyundai.

Councillors resolved to proceed with the proposal at their meeting on Tuesday this week, and voted on a recommendation to advise the Minister for Foreign Affairs of its intent to sign a MOU with Changwon City under the terms of Australia’s Foreign Relations (State and Territory Arrangements) Act 2020.

Geelong mayor Stephanie Asher said the announcement of the Land 8116 contract made the proposed MOU very timely.

“The Hanwha facility will build Geelong’s international reputation as a hub for advanced manufacturing and make a huge impact on our local economy.”

“Establishing the Hanwha facility in Geelong will have a huge impact on our local economy, and employment is such a critical factor in our post-pandemic recovery and the City’s continue growth and prosperity.

“The MOU would be open to any organisation or group in the Geelong region that wishes to take advantage of the relationship with Changwon City.”

Deputy mayor Trent Sullivan said Hanwha’s decision to base its operations in Geelong was a strong show of faith in the region’s capabilities.

“We are aiming to be internationally recognised as a clever and creative city, and this deal is a big step forward in achieving that ambition.”

The agreement would be reviewed annually to assess the benefits for both cities.