Yep, in Australia there would be a painted arrow on the road, a 'Left turn permitted on red after stopping' sign, and the opposing traffic would be stopped ever

Yep, in Australia there would be a painted arrow on the road, a 'Left turn permitted on red after stopping' sign, and the opposing traffic would be stopped every few minutes for this one to go green for a few seconds just in case (so as to not confuse people, and in case in a really busy time the traffic on the opposing way was too busy to let enough people through to stop the left turn way backing up).