DFAT has said on the public record that the meeting was to confirm that federal environmental approvals for the project had been granted. But the memo confirms that Korean investment in the project was also discussed. "We underscored our interest in encouraging Korean investment in Australian infrastructure, as well as the participation of Korean E&C [engineering and construction] companies with respect to construction,” the Korean government writes. "While we understood that decisions with respect to commercial viability were for the private sector to make, we noted the strong interest of the Australian and Queensland governments in the success of this project." Adani’s Carmichael mine would be Australia’s largest and would open coal reserves in Queensland’s Galilee Basin to further development. But the proposal has faced staunch community and political opposition, largely over its environmental impact, and has struggled to secure private sector finance. Australia’s big four banks have ruled out involvement and the Queensland government blocked a federal loan to build a rail line to the project.

DFAT told Fairfax Media the Korean meeting was held at Adani's request and the department "has had no further meetings with Republic of Korea officials on the Carmichael project". "DFAT has not made representations to secure financing for the Carmichael project. It is not our role," the statement said. The development follows earlier revelations that government ministers controversially wrote to China’s top economic regulator to confirm the Adani proposal had gained relevant environmental approvals, after Adani asked DFAT to help secure Chinese finance. Resources Minister Matt Canavan travelled to South Korea in January. Asked if he had advocated for Adani during the trip, he told Fairfax Media "I don't want to go into details of private discussions I have with other countries" but said he regularly promoted resource sector investment opportunities, including the Adani project.

Embassy of the Republic of Korea official Gyubong Lee said the Korean government "has no pending interest in [the] Adani project" and denied the existence of the documents sent to DFAT. Market Forces campaigner Pablo Brait said Korean interests were potentially being encouraged to support the Adani mine without knowing "the massive social and environmental risks it poses" such as greenhouse gas emissions from burning coal and billions of litres of water to be drawn from the Great Artesian Basin. The group is planning a campaign similar to that opposing Chinese involvement in the project, to emphasise the "strength of community opposition to the most environmentally contentious project in Australia's history", he said. Adani is seeking to sell a stake in its Abbot Point port in Queensland. There is speculation the partial sale could raise cash to help fund the mine or associated infrastructure, and help Adani raise indirect investment support for the mine. An Adani spokeswoman said work to secure finance for the Carmichael mine was "progressing well".

"The details on finance negotiations are commercial-in-confidence and we will update stakeholders at the appropriate time," she said. Former head of equity research at Citigroup, Tim Buckley, now a director at the Institute for Energy Economics and Financial Analysis, questioned why the federal government was "promot[ing] a foreign private billionaire's interests". "They are there to serve the people of Australia," he said, saying employment and other local benefits from the project had been overstated. South Korea is traditionally a big export market for Australian coal, however President Moon Jae-in was elected last year on a mandate to cut pollution, and has moved dramatically to support renewables. This had reduced Adani’s chances of securing investment from Korean businesses, which worked closely with the government, Mr Buckley said.