SEOUL, April 22 (Korea Bizwire) – With the participation of Japan’s largest horseracing company, the Korean horseracing industry is rapidly being globalized, as the number of foreign racehorse owners in Korea is increasing.
On April 21, Yoshida Sunsuke from Northern Farm, which operates under the Shadai Group, Japan’s largest horseracing company, bought two Korean racehorses and registered as a horse owner with Korean authorities.
Shaidai Farm is the frontrunner of Japan’s world-class horseracing industry, and accounts for a market share of more than 90 percent in Japan’s horseracing industry. It owns two popular stallions, Deep Impact and King Kamehameha.
Prior to Shadai Group’s advance into Korea, in February, the first foreign racehorse owner was registered in Korea. Joseph Dallao, the Korea branch head of L-3 Communications became the first foreign racehorse owner in Korea.
After Joe Dallao, nine other foreign owners, including three from Japan, two from the U.S., two from Australia and one each from Singapore and Ireland were registered.
An official at the Korea Racing Authority said, “Up until last year, there were no foreign racehorse owner in Korea’s horseracing market, but an increasing number of foreign owners are being registered after our horseracing reform and it is going global.”
Meanwhile, some worry that if well-trained foreign racehorses come to Korea’s racing market, Korean horses will become very despondent. However, others expect that their competitiveness will help the Korean horseracing market grow rapidly.
By John Choi (email@example.com)