Australia, SKorea sign $720 million defense deal

Australia and South Korea signed a 720 million USD defense deal Monday as South Korean President Moon Jae-in became the first foreign leader to visit Australia since the pandemic began. It is the largest defence contract struck between Australia and an Asian nation.

Both countries also signed a deal to commit to a net zero emissions future by agreeing to work plans on clean energy technology and critical minerals. During his visit to the country, President Moon Jae-in laid a wreath at the Tomb of the Unknown Soldier at the Australian War Memorial in Canberra. 

South Korea is Australia's fourth-largest trading partner and fourth-largest export market under a free trade agreement that has been in force since 2014.  This year marks the 60th anniversary of diplomatic ties between the two countries.