'Colder Than Ever This Year'... "It's Hard to Find Sponsors"

Financial Institutions and Major Corporations Take a Cautious Approach to Sponsoring Domestic Players
CJ Group Launches Aggressive Marketing for PGA Tour
Hyunjo Yoo, Jeongmin Hong, and Noh Seunghee: The Path of the "FA Big 3"

It is a difficult time. This is the harsh reality faced by domestic male and female tour players. One player who achieved strong results on the Korea Professional Golf Association (KPGA) Tour this year still does not have a sponsor. Despite having both good looks and skills, no company is willing to become their main sponsor. This player made an unusual proposal to a domestic management agency, promising, "I will sign with the management agency that finds me a sponsor." This is a clear example of just how tough the domestic sponsorship market has become.

Domestic male and female tour players are experiencing difficulties finding sponsors due to the globally unstable economic situation. Photo by AP Yonhap News

The sponsorship issue is the same for female golfers. Players on the Korea Ladies Professional Golf Association (KLPGA) Tour have not had to worry about sponsors in the past. There was a strong trend of companies preferring to sponsor female players over male players. Compared to the KPGA Tour, the KLPGA Tour had overwhelming competitiveness. Large corporations and financial institutions lined up to offer sponsorships, but this is now a thing of the past. Gradually, companies are withdrawing from sponsoring professional players.

The financial sector, which had been a reliable sponsor, has started to pull back. KB Financial Group and Shinhan Financial Group are stepping away. There is a trend of terminating contracts with existing players. They are giving up on contract extensions. Of course, there is a clear rationale. Instead of sponsoring existing professional players, they are investing in developing promising young talent. For their own affiliated players, they are keeping only the core athletes and parting ways with the rest.

Shin Ji-eun, whose contract with Hanwha Q CELLS ended, competed in the tournament this year wearing a plain hat as she could not find a sponsor. Photo by AP Yonhap News

The atmosphere has changed among large corporations as well. They are taking into account the globally unstable economic situation. In the midst of a financial crisis, they are drastically reducing golf-related investments. To focus investments on core areas, they are cutting golf marketing costs. Hanwha Group decided not to renew contracts with sponsored players. They ended sponsorship relationships with players on both the KLPGA Tour and the LPGA Tour. Players who used to wear Hanwha Q CELLS hats on the LPGA Tour are now competing in plain hats.

Hanwha, in particular, had been actively investing in golf tournaments since 2011. The company entered the golf world by launching the Hanwha Financial Classic. In 2017, the Hanwha Financial Group Classic was finally elevated to a major tournament. The prize money was increased every year, reaching a total purse of 1.7 billion won. After becoming a major, it established itself as the largest event on the KLPGA Tour.

However, the situation has completely reversed. Hanwha gave up hosting the Hanwha Classic after last year. An industry insider said, "It seems Hanwha has decided to wrap up its golf marketing activities, and I understand this reflects the will of the owner family." Hanwha Group's withdrawal from golf tournaments triggered a chain reaction. Other companies such as Kyochon and SK Shieldus, which had sponsored KLPGA Tour events until last year, also stopped hosting tournaments.

Scottie Scheffler is smiling while holding the trophy after winning the PGA Tour The CJ Cup Byron Nelson hosted by CJ Group. Photo by AP Yonhap News

CJ Group is focusing more on overseas markets than on domestic ones. Since 2002, it has been sponsoring the PGA Tour event The CJ Cup Byron Nelson. The total prize money has also been increased to 9.9 million dollars. Most Korean players on the PGA Tour are supported by CJ Group. Players such as Im Sungjae, Kim Siwoo, and An Byeonghun wear CJ Group hats on the field. Among domestic players, Choi Seungbin and Song Minhyeok, who are aiming to enter overseas tours, are also sponsored by CJ Group.

The void left by financial institutions and large corporations is being filled by various companies. Mediheal, Samchully, Daebo Group, and Dongbu Group are supporting players by operating their own golf teams. The global cosmetics brand Mediheal (L&P Cosmetic) has partnered with players without sponsors. This year, it signed a sponsorship contract with Arim Kim, who won the opening event of the LPGA Tour. Among domestic players, Park Hyunkyung, Lee Yewon, Bae Sohyun, and Han Jinseon are also sponsored by Mediheal.

Arim Kim won the Hilton Grand Vacations Tournament of Champions this year with sponsorship from Mediheal. Photo by AFP Yonhap News

This year is a time when many top players are becoming free agents. On the KLPGA Tour, Hyunjo Yoo, who won the Player of the Year and Lowest Scoring Average awards, Hong Jungmin, who became the prize money queen, and Noh Seunghee, who achieved three career wins, have all become free agents. There is growing attention on the future of the so-called "FA Big 3": Hyunjo Yoo, Hong Jungmin, and Noh Seunghee. For Go Ji-won, Li Xuying (China), Choi Yerim, Kim Minju, and Hong Jinyoung, their contracts with existing sponsors also end this year.

Hyunjo Yoo, who was sponsored by Samchully, is aiming for a lucrative deal with a new sponsor. Noh Seunghee, previously supported by Yojin Construction, is also looking for a new team, and it is reported that Hong Jungmin has been notified by CJ Group that her contract will not be renewed. A representative of a golf management agency said, "I understand that the three players have high expectations regarding the sponsorship amounts. It may take longer to decide on sponsors," reflecting the current atmosphere of the domestic golf market.

Hyunjo Yoo is the biggest free agent who won the Player of the Year and Lowest Scoring Average awards on the KLPGA Tour this year. Photo by KLPGA

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