Besides beginning FTA talks with Australia, Korea has now signed a security pact with the Land Down Under as well:

Australia and South Korea announced Thursday a new joint security cooperation pact, as North Korea reportedly moves ahead with plans to test-fire a long-range missile. (…..)

The new security pact aims to increase cooperation between South Korea and Australia on global disarmament and nonproliferation of weapons of mass destruction. It will cover a range of security threats including terrorism, drug smuggling and piracy as well as people and weapons trafficking.

It also aims to increase joint military training exercises and exchanges. And it includes a separate agreement that would ensure safe sharing of classified military information such as defense industry contracts.  [International Herald Tribune]

Cooperating on drug smuggling with South Korea, Australia actually has good reason for.

Also there is also a good reason why Australia and Korea are sharing classified information on defense contracts as well.  Samsung Techwin is building for the Australian Defence Force its first Self Propelled Howitzer (SPH), the AS-9:

The AS-9 is the Australian version of the Korean K-9 Thunder.  The K-9 was in competition with a number of artillery systems before making it to the final two where they were competing with the German PzH 2000.  Overall the PzH 2000 is a better system, but the K-9 is more affordable and of pretty good quality.  Think of it as a Hyundai verses a BMW.  Samsung Techwin also joined with the US firm Raytheon which is building the digital battle management system called the Advanced Field Artillery Tactical Data System (AFATDS).  AFATDS is currently also used by the US military as well.

Samsung Techwin last signed a deal with Turkey to produce the K-9 for them as well, which is called the T-155 Firtina.  This latest deal is just another example of how Korea is becoming more and more of player internationally in the defense industry by taking the Hyundai approach producing an affordable product with good overall quality.