Kim Jung-tae, New KLPGA President: "Globalizing the Tour and Introducing a Pension System"

Start of 4-Year Term for 14th President, Promise to Expand Asia Golf Leaders Forum and Discover Various Revenue Projects

Kim Jeong-tae, the 14th president of KLPGA, is delivering his inaugural speech. Photo by KLPGA

[Asia Economy Reporter Noh Woo-rae] "Globalization of KLPGA and introduction of pension system."

These are the aspirations of Kim Jung-tae, Chairman of Hana Financial Group, who was inaugurated as the 14th president of the Korea Ladies Professional Golf Association (KLPGA). At the inauguration ceremony held on the 11th at the Grand Intercontinental Seoul Parnas in Gangnam-gu, Seoul, he said, "I feel infinite honor and heavy responsibility to become part of the KLPGA family," and expressed his intention to "create a tour that expands beyond Asia to the world." He will lead the KLPGA for four years, succeeding former chairman Kim Sang-yeol of Hoban Construction.

He plans to activate the Asia Golf Leaders Forum (AGLF), established in 2019, to expand the scope of the KLPGA. Chairman Kim said, "We are in close consultation with golf associations from countries such as Indonesia, Taiwan, Thailand, Vietnam, and Singapore," adding, "We will make efforts so that KLPGA players can compete in overseas tournaments during the off-season," and "If we co-host, I think the Asian side will become more active."

Along with the globalization of the KLPGA, he identified the introduction of a pension system to establish welfare benefits as a key task. Chairman Kim, who said "The brand value of the KLPGA is high," stated, "We will secure funds by discovering various revenue businesses without relying solely on broadcasting rights fees," and "We will ensure that both regular and associate members receive benefits exceeding their membership fees." He promised to hold all tournaments normally in the 2021 season through thorough quarantine measures.

"At the current state, we expect all tournaments to be held," he said, adding, "We will prioritize the safety of visitors to the tournament venues by utilizing thorough and convenient non-face-to-face entry management and online health questionnaires." He also explained, "For the first division tour to do well, the second and third divisions must be activated," and "Some people seem worried because the schedules for the second and third division tours have not been released yet, but the number of tournaments will not decrease."

Chairman Kim joined Hana Bank in 1991, served as president of Hana Daetoo Securities (2006) and Hana Bank (2008), and has led Hana Financial Group since 2012. He has a special love for golf, having served as co-chairman of the Hana Bank Kolon Korean Open in 2005 and the Hana Bank Kolon Championship on the U.S. Ladies Professional Golf Association (LPGA) Tour from 2006 to 2018. He said, "Because I like golf, I took on the presidency with the intention of finding ways to help."

This content was produced with the assistance of AI translation services.