[The Korea Economic Daily] Yuwon Golf Foundation Publishes ‘White Paper on Korea’s Golf Industry 2020’… Korea’s Golf Market Reaches KRW 13 Trillion, Surging by KRW 2.6 Trillion in 5 Years

The Korea Economic Daily reported that the Yuwon Golf Foundation has published its ‘White Paper on Korea’s Golf Industry 2020,’ noting that as of 2019 the domestic golf market was valued at approximately KRW 12.9992 trillion, growing by more than KRW 2 trillion over the five years since 2014. The white paper analyzed the golf industry by dividing it into the core market and the derivative market, reporting that the core market accounted for KRW 5.2137 trillion (40.1%) and the derivative market for KRW 7.7856 trillion (59.9%). Within the core market, field golf held the largest share at KRW 3.0381 trillion, followed by screen golf at KRW 1.3973 trillion, the report added.

The Korea Economic Daily reported that within the derivative market, the equipment market took up KRW 5.7447 trillion, or 73.8% of the total, while the screen golf market, based on a market value chain analysis, reached KRW 1.6410 trillion—an increase of roughly KRW 153.5 billion over two years—demonstrating clear growth momentum as it accounted for 12.6% of the total.

The Korea Economic Daily reported that, through the golf industry white paper it publishes every two years, the Yuwon Golf Foundation confirms the steady growth of the domestic golf market encompassing both field and screen golf, and presents directions for the development of the industry as a whole.