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Food & Beverage to South Korea

The Going Global Export Program provides export support for NSW early-stage exporters or new to market exporters. Eligible businesses can apply for free support to export Food & Beverage products to South Korea in 2024. Products eligible for this stream include: export packaged food, non-alcoholic beverages, health food, dried fruit, nuts, meat, poultry and dairy. Applications closed on Sunday 18 February.

Program dates

March to June 2024

Key event

Seoul Food & Hotel, 11-14 June, Kintex

In-person attendance at the event is required.

Why this market

The Republic of Korea (South Korea) is NSW’s fourth largest export market and fourth largest two-way trading partner. South Korea has a population of 51.6 million (2022) and a gross domestic product (GDP) per capita of more than US$31,000.

There is untapped potential in South Korea for NSW exporters of high-quality food and beverage products.   South Korean consumers regard Australia as clean and green, and a producer of quality food products and ingredients.

The Korea-Australia-Free Trade Agreement has improved access for Australian food and beverage exporters.  There is potential for strong growth as more South Korean consumers are exposed to the wide range of Australian food and beverages. 

Curriculum

Introductory sessions

  • Welcome session – around Wednesday 27 March 2024
  • Introduction to food & beverage ecosystem and doing business in Korea
  • Access to 13 self-serve factsheets developed by the Export Council of Australia exclusively for Going Global participants
  • Freight logistics and compliance
  • Intellectual Property protection briefing from IP Australia

Market intelligence briefings and cultural training

  • Market briefing and sector-specific opportunities
  • Market specific business culture
  • Regulatory requirements.

Preparation to meet potential partners/customers

  • Pitch training Webinar / pitch deck development

Potential partner search and introductions

  • In-person participation at Seoul Food Tradeshow – with in-market assistance and logistical support from Investment NSW
  • Identification of potential partners
  • Targeted 1:1 business matching meeting.

Ongoing advice and follow up

  • Ongoing support provided by a dedicated NSW Government Export Adviser.
  • Access to 20 self-serve modules on e-commerce strategy and skill development, hosted by the Global Trade Professionals Alliance.

We estimate you will invest 10 hours on our educational/training programs prior to travelling in-market. This does not include any optional activities or work your business may need to do outside of sessions.

*The curriculum may be subject to change

Participation requirements and success factors

Eligibility for the overall Program

  • Have headquarters in NSW
  • Have a valid Australian Business Number (ABN) registered for NSW 
  • Be export-ready 
  • Have an employee number between 5 and 199 full-time equivalent (FTE) employees 
  • The product or service must be produced primarily in NSW
  • The product or service is achieving sales already
  • Have a website featuring the product or service
  • Be prepared to adapt the product or service for the new market
  • Be flexible regarding market-entry method
  • Have resources to support marketing and development for a new market
  • Commit to travel to the selected market and/or to Sydney for events, and must cover own travel expenses.

Note: this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters.

Additional eligibility requirements for this stream

  • As this is a market-entry program, exporters should generally not already be earning more than $250k (AUD) from South Korea customers in the last financial year
  • Regulatory requirements for Korea
  • Ability to meet export orders

The ideal participant 

  • Products targeting the retail sector
  • Products that are unique, price competitive and consistent quality
  • Product has (or can be adapted for) at least 12-24 month shelf life and 10 Degrees Celsius in display shelves
  • Dairy, meat and seafood items are/can be compliant with import quotas, restrictions, and other market access regulations
  • Able to respond to enquiries from South Korea quickly and flexibly to build relationship trust
  • Bulk for food manufacturing ingredients or as packaged products:
    • Red meat including beef, veal and lamb
    • Dairy products including UHT milk, frozen cream, butter and cheese of all types
    • Functional foods and health supplements including healthy snacks, meal replacements, beauty supplements
    • Premium beverage including non-alcoholic and carbonated drinks
    • Range of seafood products – frozen / chilled
    • Sauces, dressings, edible oils and condiments
    • Breakfast cereals, grains and pulses
    • Organic products with Korean organic certification or that are willing to trade as non-organic product in Korea

Businesses not eligible for this stream

  • Products targeting pharmacy outlets in Korea
  • Alcoholic beverages
  • Pet food
  • Aggregators, traders, or businesses who sell services to exporters

Applicants who have not previously participated in a Going Global Program to South Korea will be given priority to participate in this stream.

Apply

Applications closed on Sunday 18 February 2024.

Note: Apply for your preferred market - you can apply for and participate in only 1 stream.