Since its first shipment of Wagyu beef arrived in Korea in August 2023, King River has seen its relationship with Korean customers go from strength to strength.
‘Korea has traditionally been a strong market for beef,’ explains Josh Rich, King River’s General Manager, ‘but Australian beef was comparatively expensive when we first began working with our Korean distributors. With the Korea-Australia Free Trade Agreement (KAFTA) progressively removing the 40% tariff, Australian beef is now an attractive option for Korean buyers.’
King River has sent A$1.5 million worth of Wagyu beef to Korea in the last 12 months. Korea is now one of the north Queensland beef producer’s most important markets, second only to China. The company has also expanded product lines to meet local cultural expectations, building relationships throughout the region.
Award-winning family-owned beef producer
King River is a fifth-generation family-owned business with over 200 years’ combined experience in beef production. The company has made a name for itself exporting bespoke Wagyu beef that considers the way different cultures prepare, cook and enjoy beef. Its vertically integrated supply chain also minimises risk and provides certainty for partners, distributors and customers.
Two years after it started exporting, King River’s beef products are enjoyed in 40 countries.
Despite its success, King River still sees itself as a relative newcomer in the beef export industry. Its success at the 2024 Premier of Queensland’s Export Awards was particularly important. The company was a finalist in 3 categories and took out the Regional Exporter of the Year award.
‘We’re a new player in the game, so this award is important acknowledgement from the industry,’ says Rich. ‘It helps our customers and suppliers have confidence that our pricing and processes are sustainable.’
King River’s Wagyu beef is winning customers in Korea and worldwide.
Global business relies on strong business relationships
Building lasting relationships with customers and distributors is central to King River’s business model. These relationships, as well as careful oversight and clever technology, help the company manage the complex logistics of supplying global customers with their requested cuts and grades of Wagyu.
While it has its challenges, this bespoke approach enables King River to offer greater flexibility and creative solutions for customers.
‘We have a motto that our clients’ success is our success,’ says Rich. ‘We want our customers to be transparent with us about their challenges so we can help them find solutions.’
For example, a cut that is hard for one customer to sell may be hugely popular in another market. King River may be able to find another buyer. Sometimes, a challenge leads to new products. One Korean customer, for example, has begun producing jerky from cuts they were previously struggling to sell.
Government agency support to build relationships
Support from Austrade and Trade & Investment Queensland (TIQ) is helping King River build an international market. Industry events such as Aussie Beef Mates bring chefs together to share different international approaches to cooking beef. Tailored roadshows and in-house demonstrations of how to cook particular cuts can also build customer confidence.
Austrade and TIQ have also facilitated introductions and business-matching at trade fairs. The opportunity to export to Korea, for example, came through a meeting at the Seoul Food & Hotel event.
‘We understood Korea was a relationship-based market,’ says Rich. ‘So being able to go to Seoul and make those personal connections with our customers was very important.’
King River’s relationship-based business model is paying off. The company exported over 12 million tonnes in 2023–24 to Asia, Europe, the Middle East and Africa, and the US.
‘People send me photos from around the world saying they’ve just seen King River on the menu,’ says Rich. ‘We are very proud of the products that we put our brand on, and we want our customers to be proud to build their brand with us as well.’
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