This follows from $\kappa \lt \kappa^{cf(\kappa)}$ that can be proved without Konig's theorem (see e.g. Jech/Set Theory Theorem 3.11).
Now to get the requested equality substitute $2^\kappa$ instead of $\kappa$ and use the fact that $\kappa \le cf(2^\kappa)$ (that can be seen by assuming the opposite, and getting a contradiction from $2^{k * cf(2^\kappa)} \lt 2^{\kappa * \kappa}$).