Free CC '9-Hole Expansion Plan'... Membership Fees Rise 14.3%
Land Cost, Construction Cost, and Indirect Expenses Investment of 85 Billion KRW
Yeoju Jayu CC in Gyeonggi-do (photo) is planning to expand by adding 9 holes by 2026.
Shinsegae Construction decided at its board meeting in December last year to increase the Jayu CC golf course from the existing 18 holes by 9 holes. The total investment cost is 85 billion KRW, which includes land costs, construction costs, and indirect expenses. The investment period is from December 19, 2022, to March 31, 2026. It is known that the funds will be raised through methods such as selling new memberships.
Jayu CC is a regular 18-hole members-only golf course that opened in 1993. The size is about 320,000 pyeong, and the front nine length is 5,087 meters. This is the first time in 10 years that Shinsegae Construction is investing in a golf course since the completion of Trinity CC. The decision to make additional investments appears to be based on the fact that the leisure sector is showing significant growth.
Following the expansion news, membership prices have also been fluctuating. According to the Donga Membership Trading Center, as of the 27th, Jayu CC memberships are trading at 235 million KRW, up 14.9% from the previous week. This reflects the expectations related to the 9-hole expansion.
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Black Valley CC, a public golf course in Samcheok, Gangwon-do, is also considering a 9-hole expansion. Samcheok City and Black Valley CC plan to start preparing investment plans this month, along with reviewing the feasibility of the project and gathering residents' opinions.
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