Was is interesting about the ROK participation in the Australian led exercise is that the Japanese are also participants:

This file photo provided by the Navy on Sept. 30, 2011, shows South Korea’s DDH-II destroyer Dae Jo Yeong. 

South Korea plans to take part in a large-scale naval exercise that the United States and Australia plan to hold next month, the defense ministry said Monday.

The Navy will send a 4,400 ton-class destroyer to the Talisman Sabre exercise set to take place in mid-July in Australian waters. The biennial exercise is the largest bilateral training activity between the U.S. and Australia.

“We’ve decided to join the exercise for the first time this year with a goal to improve our capabilities of conducting combined operations,” ministry spokesperson Boo Seung-chan told a regular press briefing.

Yonhap

You can read more at the link, but besides the U.S., Australia, and the ROK; Britain, Canada, New Zealand and Japan are also participants, while France, India and Indonesia are observers this year.