Korean buyers prominent at Magic Millions horse sales
Published Thursday, 12 June, 2008 at 10:00 AM
Minister for Transport, Trade, Employment and Industrial Relations
The Honourable John Mickel
A total of 33 Korean buyers are currently attending the Magic Millions thoroughbred sales on Queensland’s Gold Coast.
Minister for Trade John Mickel, visiting Korea on a trade mission, said that the Korean delegation to Queensland includes members of the Korea Racing Authority (KRA) inspection team, a KRA Busan Race Track trainer, members of the Korea Thoroughbred Breeders Association, agents and individual horse stud owners.
“A strong Korean contingent also attended last week’s broodmare sales (June 2-6), buying 35 broodmares for a total of A$707,000,” Mr Mickel said.
“This week Korean buyers are attending the yearling sales (June 10-12), and they are expected to purchase a greater number of horses than last year.
“Queensland's thoroughbred industry has found substantial success exporting to Korea – Queensland’s second largest merchandise export market in 2006-07.
“The first exports of race horses to Korea were in early 2003, with Queensland studs earning around $9 million from exports to Korea since that time.
“Queensland studs have proven themselves as reliable suppliers to the burgeoning racehorse market in Korea. The export success has been aided by the close partnerships between Magic Millions and the Trade Queensland Office in Seoul and the Trade Queensland team in Brisbane.
“The total number of Queensland horses sold to Korea up to the end of 2007 was 399 comprising broodmares, yearlings and two year olds. Many are already proving themselves on the country's top racetracks, including the new racetrack in Busan.
“The KRA has three major racecourses: the Seoul Race Park, the Jeju Race Park, and the new Busan Gyeongnam Race Park.
“Queensland horses are popular in Korea because of their affordability, reputation for stamina and adaptability to climatic changes.
“Following exceptional sales over the past four years, Queensland has become the southern hemisphere's largest supplier of bloodstock to Korea. That's a phenomenal achievement by our local stables.
“Korean buyer delegations are now prominent regulars at Magic Millions horse sales on the Gold Coast following promotions by Magic Millions in Korea, supported by the Queensland Government,” Mr Mickel said.
Minister Mickel said that Trade Queensland had played an important role in promoting the Queensland equine industry in the Korean market.
“The Government will continue to assist Queensland industry to promote the capability of the State’s racing and racing-related industries,” Mr Mickel said.
Magic Millions sponsored the Magic Millions Queensland Cup on 5 May 2007 at the Busan Gyeongnam Race Park under the stewardship of the Korea Racing Authority. Sponsorship included A$37,000 prize money and the provision of the Magic Millions Queensland Cup. Busan Gyeongnam Race Park also sponsored the event with a contribution of A$30,000, bringing the total prize pool to A$67,500.
Media contact: John Smith 3227 1944 or Nathan Moir 3235 4060
June 12, 2008
Minister for Trade John Mickel, visiting Korea on a trade mission, said that the Korean delegation to Queensland includes members of the Korea Racing Authority (KRA) inspection team, a KRA Busan Race Track trainer, members of the Korea Thoroughbred Breeders Association, agents and individual horse stud owners.
“A strong Korean contingent also attended last week’s broodmare sales (June 2-6), buying 35 broodmares for a total of A$707,000,” Mr Mickel said.
“This week Korean buyers are attending the yearling sales (June 10-12), and they are expected to purchase a greater number of horses than last year.
“Queensland's thoroughbred industry has found substantial success exporting to Korea – Queensland’s second largest merchandise export market in 2006-07.
“The first exports of race horses to Korea were in early 2003, with Queensland studs earning around $9 million from exports to Korea since that time.
“Queensland studs have proven themselves as reliable suppliers to the burgeoning racehorse market in Korea. The export success has been aided by the close partnerships between Magic Millions and the Trade Queensland Office in Seoul and the Trade Queensland team in Brisbane.
“The total number of Queensland horses sold to Korea up to the end of 2007 was 399 comprising broodmares, yearlings and two year olds. Many are already proving themselves on the country's top racetracks, including the new racetrack in Busan.
“The KRA has three major racecourses: the Seoul Race Park, the Jeju Race Park, and the new Busan Gyeongnam Race Park.
“Queensland horses are popular in Korea because of their affordability, reputation for stamina and adaptability to climatic changes.
“Following exceptional sales over the past four years, Queensland has become the southern hemisphere's largest supplier of bloodstock to Korea. That's a phenomenal achievement by our local stables.
“Korean buyer delegations are now prominent regulars at Magic Millions horse sales on the Gold Coast following promotions by Magic Millions in Korea, supported by the Queensland Government,” Mr Mickel said.
Minister Mickel said that Trade Queensland had played an important role in promoting the Queensland equine industry in the Korean market.
“The Government will continue to assist Queensland industry to promote the capability of the State’s racing and racing-related industries,” Mr Mickel said.
Magic Millions sponsored the Magic Millions Queensland Cup on 5 May 2007 at the Busan Gyeongnam Race Park under the stewardship of the Korea Racing Authority. Sponsorship included A$37,000 prize money and the provision of the Magic Millions Queensland Cup. Busan Gyeongnam Race Park also sponsored the event with a contribution of A$30,000, bringing the total prize pool to A$67,500.
Media contact: John Smith 3227 1944 or Nathan Moir 3235 4060
June 12, 2008