And golf, which can be enjoyed by 2 to 4 people in vast nature, is considered the best sport to play during this period, and the global golf market has expanded rapidly.
Korea is no exception. In 2014, the size of the golf industry broke the ’10 trillion won’ barrier for the first time, and in Korea, which grew moderately until 2019, the market size surged by 56.9%, reaching a whopping 7.5 trillion won, over the three years from 2020 during the pandemic period.
The golf industry has entered the 20 trillion won era.
On the 13th, the Yuwon Golf Foundation published the ‘Korean Golf Industry White Paper 2022’, which analyzed the structure and size of the domestic golf market and presented the direction for the development of the golf industry. 바카라사이트닷컴
The launch ceremony was held on this day with the attendance of Kim Young-chan, Chairman of the Yuwon Golf Foundation, Choi Deok-hyung, CEO of Golf Zone New Din Holdings, Golf Zone CEO Park Kang-soo, representatives of Golf Zone New Din Group companies, and about 100 golf industry officials.
Chairman Kim Young-chan said, “We will continue to engage in various activities in all aspects of the golf industry to develop the domestic golf industry and expand its base.
We hope that the golf industry white paper will be of great help to the domestic golf industry.” .
The golf white paper covered the entire sports industry related to golf, including field (golf course) golf, screen golf, professional and amateur competitions, supplies, facilities, and broadcasting rights. In particular, it was possible to take a closer look at the changes in the Korean golf industry by classifying it into the ‘original market’ for viewing and participating in the golf market and the ‘derivative market’ for supplies and facilities.
According to the ‘Korean Golf Industry White Paper 2022’, the golf market grew rapidly by an average of 16.2% per year from 2020 to 2022 during the pandemic period. Previously, until 2019, the growth rate of the Korean golf market was only 4.9% per year.
As a result, the size of the Korean golf market in 2022 was found to be 20.669 trillion won, an increase of 7.4984 trillion won compared to 2019 (13.1706 trillion won) right before the outbreak of COVID-19.
In addition, the Korean golf industry, which surpassed KRW 10 trillion for the first time in 2014 at KRW 10.347 trillion, has doubled in size in just 8 years.
Professor Kang Jun-ho of Seoul National University’s Sports Industry Center, who created the white paper, said, “This white paper compiles, estimates and analyzes the structure and size of the domestic golf industry based on three years of market data from 2020 to 2022, and has been published every two years since the first white paper was published in 2017.
“We went beyond data analysis and included the results of a total of three years of research for the first time.” He continued, “In particular, we were able to take an in-depth look at various changes in Korea, where the golf industry has grown rapidly due to COVID-19.
The introduction of the social distancing system is one of the main reasons for the surge in demand for the golf industry, which is characterized by small numbers of people and outdoor activities.”
According to the white paper, the main market, where golfers directly participate and watch, is worth about KRW 8.3556 trillion, or about 40.4% of the entire golf market.
The size of the derivative market, including golf equipment and facilities, reached KRW 12.3134 trillion, or 59.6%.
Among these, the supplies market accounted for 81% of the derivatives market, accounting for the largest proportion, amounting to KRW 9.9365 trillion.
Korea’s screen golf market has also grown rapidly. Screen golf was worth about 1.5304 trillion won in 2020, about 1.8143 trillion won in 2021, and about 2.1865 trillion won in 2022, growing by 6%, 19%, and 21% respectively compared to the previous year.
Strangely enough, the growth of the Korean screen golf market follows the same trend as that of ‘field golf.’
The size of golf course use grew by 16%, 27%, and 10% compared to the previous year, respectively, to 3.676 trillion won in 2020, 4.6687 trillion won in 2021, and 5.12 trillion won in 2022.
This survey also yielded meaningful content related to golfers.
This is ‘perception of golf.’ Approximately 22% of golfers said that their perception of golf had changed.
Among these, ‘since it is outdoor exercise, there is little risk of infection’ accounted for the largest proportion at 52.7%, followed by ‘beneficial to health’, ‘stress can be relieved in nature’, ‘you can exercise while breathing good air’, etc. The percentage of people who fell in love with their inherent charm also exceeded 30%.