South Korea's confidence to invest in NSW had been shaken by the state government's refusal to approve Kepco's proposed coal mine project in the Bylong Valley, Premier Dominic Perrottet was told this week.
Kepco, a Korean government-backed corporation had sought to extract an estimated 6.5 million tonnes of coal a year from the area, which is regarded as some of the state's top agricultural land.
Late last year the company lost its second legal appeal against the Independent Planning Commission's 2019 decision to reject its mining proposal due to the impact it would have had on water, highly productive farming country, and the climate.
It is presently considering appealing the decision to the High Court.
Mr Perrottet spent two days in Seoul earlier this week working to encourage investment in NSW.
News Corp reported this week that Mr Perrottet was told that the IPC's refusal of the Bylong project had led the Korean government to regard NSW as "a risky location for large scale energy sector investments".
Mr Perrottet was reported as saying he wanted to give overseas investors confidence.
"What I want to see is that there are no speed bumps that get in the way," he said.
"That doesn't mean going around the process, it means making sure the process is as simple and seamless as possible."
KEPCO reportedly spent about $700 million on the Bylong project, including $115 million for more than 12,000 hectares ( about 42 per cent of the Bylong Valley).
The land includes a church, the general store, the local public school, and significant private landholdings including historic Tarwyn Park.
The company argues the mine would inject around $290 million into the NSW economy.
Bylong Valley residents said in March they were hopeful that Kepco would sell the land that it had acquired for the project back to the community.
It came after a group of neighbours in the Liverpool Plains earlier this year bought back land purchased for Shenhua's planned Watermark coal mine near Gunnedah.
