Sydney: The head of South Korea's financial investment association and local brokerage executives are on a trip to Australia to discover new investment opportunities on the continent, the Korea Financial Investment Association (KOFIA) said Monday.

According to Yonhap News Agency, the delegation, led by Seo Yoo-seok, the chairman of KOFIA, was scheduled to meet with government officials, officials from pension funds and rare earth companies during its eight-day trip that began Saturday, the association said.

At the start of its trip, the delegation will meet with officials from the Australian Trade and Investment Commission and discuss areas of bilateral partnerships.

The later part of the trip will comprise visits to Australian Strategic Materials Ltd., a rare earth company, and a meeting with Quinbrook, an energy infrastructure-focused investment firm.

Additionally, the group will visit the Queensland Investment Corp., an investment company owned by the Queensland government, to discuss investment trends of Australian pension funds, KOFIA added.

KOFIA has annually organized overseas trips with officials from local financial firms in an effort to help member companies discover new investment opportunities.

Last year, the association led a delegation of local asset management firms and visited Canada and Norway in April while visiting Norway and Sweden with a group of executives from Korean brokerages in July.