The Australia-Korea Foundation (AKF) was established by the Australian Government in 1992 to promote bilateral relations between Korea and Australia. The objectives of the Foundation are to increase public awareness of Australia in Korea and of Korea in Australia; develop partnerships in areas of shared interest in the bilateral, regional and global context; and increase Australians' capacity to effectively engage with Korea. The AKF offers annual grant funding to organisations and individuals to support projects or activities which advance Australia's engagement with Korea, including exchanges, partnerships and other collaborations in the general fields of business, education, academia, arts/culture and society.
The objectives of the Australian-Korea Foundation are to:
- Increase public awareness of Australia in Korea, and of Korea in Australia, and the importance of the bilateral relationship
- Develop partnerships in areas of shared interest in the bilateral, regional and global context
- Increase Australians’ capacity to effectively engage with Korea.
The Government of the Republic of Korea also announced the formation of the Korean counterpart of the AKF, the Korea-Australia Foundation (KAF), in 1991. The Board of the KAF is composed of a number of prominent Koreans from government, academia and business.