The Finocchiaro CLP Government and Samsung C&T have signed a Memorandum of Understanding (MoU) to unlock new projects and investment across energy, marine, digital and defence-support sectors.
The MoU was signed by the Honourable Robyn Cahill, Minister for Trade, Business and Asian Relations and Mr JW Kim from Samsung C&T in Seoul, Republic of Korea.
The Northern Territory is well positioned to be a focus area for SC&T, given the clear opportunities presented by the Territory's strategic positioning at the heart of the Asian region's energy, communications and security highways.
Samsung C&T is a leading global Engineering, Procurement and Construction (EPC) player and is recognised for delivering high-value, complex and specialised engineering programs globally including the world's tallest building, Burj Khalifa in Dubai and the iconic Petronas Towers in Kuala Lumpur.
Within Australia, SC&T already has an established track record, helping to deliver Roy Hill iron ore mine in WA, the M4-M5 Motorway WestConnect in Western Sydney, and the Arrowsmith Green Hydrogen plant in Dongara WA.
The MoU builds on the first agreement signed in 2023, further deepening Samsung's engagement and relationship with the NT over the past 2 years.
Minister for Trade, Business and Asian Relations, Robyn Cahill OAM said: "During our year of growth, certainty and security, partnering with a major global investor like Samsung, C&T is a game changer for the Northern Territory and will unlock new investment, promote economic growth and create local jobs.
"South Korea is a major trading partner of the Northern Territory driven by energy and mineral exports.
"This MoU will enable more opportunities for investment in energy transition, industrial development, digital infrastructure, maritime logistics and defence-supporting capabilities."
The MoU establishes a framework for collaboration, information exchange and to support priority opportunities across these key areas.
Importantly it provides an avenue for greater engagement with the broader Samsung international networks, providing market access discussions and introductions and potential for local jobs in construction, data, infrastructure, maritime support and energy sectors.
Samsung C&T Engineering & Construction Group, President of Global Business & Operations Unit, Mr Jung Wook Kim said: "We are pleased to continue strengthening our collaboration with the Northern Territory through this Memorandum of Understanding.
"The Territory presents a compelling environment, supported by its strategic location, abundant resources and growing role in regional energy and digital infrastructure.
"By leveraging our global experience in delivering complex infrastructure projects, we look forward to working closely with the Northern Territory Government and local stakeholders to support sustainable, scalable outcomes."
The MoU signing is part of the Northern Territory Government's Investor Roadshow which includes a high-level government and industry delegation promoting the Territory's key investment opportunities to key stakeholders in Japan and Korea.
