Wine, Beer and Spirits to Korea
Eligible businesses can apply for free support to export NSW wine, craft beer, cider, spirits and alcohol-free alternatives to Korea. Applications open on 5 December 2022 and close on 12 February 2023.
April to July 2023
In-person attendance at a bespoke NSW trade tasting event in Seoul Korea.
Why this market
Wine Intelligence named Korea as the second most attractive wine market in the world in 2020 and Aussie exporters have taken note, seeking to capitalise on growing levels of wine consumption. In-market promotions and business matching by Austrade together with industry has helped to grow wine exports by 33% in value since 2019 to reach A$46.0 million in 2021.
Revised tax laws and consumers seeking new and unique drinks have seen craft beer sales grow strongly over the last year or so, with some convenience store chains reporting up to 270% increase on 2021 sales. (Euromonitor: Beer in South Korea: June 2022)
Australia has also secured two Free Trade Agreements with Korea which may assist your products in being more price competitive compared to other countries.
- Welcome session on 1 April 2023 (TBC)
- Introduction to the Korean ecosystem and doing business in Korea
- Access to 13 self-serve factsheets developed by the Export Council of Australia exclusively for Going Global participants
- Access to Intellectual Property protection briefings from IP Australia
Market intelligence and cultural training
- Market briefing and subsector-specific opportunities
- Market specific business culture and etiquette
- Introduction to alcohol retail ecosystem and doing business in Korea
- Regulatory requirements
Potential partner search and introductions
- Virtual or in person participation at a bespoke trade only tasting event with In-market assistance and logistical support from Investment NSW
- Potential partner introductions
- Targeted one-on-one business matching
Ongoing advice and follow up
- Ongoing support provided by a dedicated NSW Government Export Adviser
Note: The curriculum is 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-capable and export-ready
- Have an employee number between 3 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
- Be willing to travel to the selected market (where and when travel is permitted) 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
- Already exporting to at least one overseas market
- Be prepared to provide samples for trade event / sampling
The ideal participant
Ideal product categories:
- NSW Wines
- Craft beer and cider
- Alcohol-free beverages that are alternatives to the above
Businesses not eligible for this stream
- Soft drinks, sodas, juices, bottled water
- Businesses who participated in a previous round of Going Global Program “to Korea”
An information session will be held on 12 December from 12:00pm – 12:30pm AEDT.
How to apply
Applications open on 5 December 2022 and close on 12 February 2023.
Applicants will be notified of the outcome around 28 February.
Note: Apply for your preferred market - you can apply for and participate in only one stream.