(image: Korea Golf Course Business Association)
SEOUL, Dec. 16 (Korea Bizwire) — As South Korea’s golf course industry continues to expand, it is nearing the size of Japan’s, data showed Thursday.
The Korea Leisure Industry Research Institute reported that the size of last year’s golf course industry in South Korea reached 8.5 trillion won (US$6.54 billion), including caddy fees.
The country’s golf course industry more than doubled over the past decade, while the same industry in Japan shrank by 9.5 percent.
Excluding caddy fees, South Korea’s golf course industry was worth 6.9 trillion won.
More than 90 percent of Japan’s golf courses have a “no caddy” policy. Caddies are regular employees in Japan, and their fees are included in golf course sales.
In contrast, most golf courses in South Korea continue to hire caddies and caddy fees are excluded from golf course sales.
Meanwhile, 5.64 million South Koreans played golf as of 2021, exceeding the number of golfers in Japan (5.6 million).
Weekday green fees at golf courses in South Korea stood at an average of 173,700 won as of May last year, which was 3.1 times more expensive than in Japan.
Kevin Lee (kevinlee@koreabizwire.com)
