"The Domestic Hermes of the Shaft Industry" Park Jong-tae, CEO of Monsta

"It is a product worth purchasing at a high price."

This is the confidence of Park Jong-tae, CEO of Monsta & Psycho Golf. Monsta Shaft is a domestic shaft company produced in Korea, along with Domina's Autoflex. It has now grown popular even overseas. It is called the "Herm?s of the shaft industry." A single shaft made at the Masan factory costs 1.1 million KRW. A considerable investment is required. In an interview with Asia Economy on the 18th, CEO Park said, "You will not regret purchasing it," and confidently stated, "It is the best shaft that can simultaneously improve directionality and distance."

CEO Park is a "golfer." He has 33 years of golf experience. He once aimed to become a professional player. In 1997, he went to Gold Coast, Australia, for golf studies. However, his results were not as good as expected. He gave up his dream of becoming a pro and obtained a teaching certificate to give lessons, but he did not find it enjoyable. At that time, he became interested in club manufacturing and fitting. CEO Park recalled, "When I was in Australia, I became fascinated by swing analyzers. Making clubs and shafts and doing fittings was fun."

There is a story behind his dedication to the shaft business. It is because of his daughter Park Ye-ji, born in 2005, who debuted on the Korea Ladies Professional Golf Association (KLPGA) Tour this year. She was born five years after his marriage in 2000. CEO Park said, "I wanted my daughter to play well using the shaft I made. But my daughter, who started golf in the 4th grade of elementary school, did not use the shaft I made," and laughed, "I was stimulated when I heard her say, 'Dad's product is outdated. Grandpa doesn't even play, so why should I use it?' That gave me determination, and I made a shaft regardless of the price. That is the background of the current shaft's birth."

CEO Park invested enormous time and money to develop the best shaft. Carbon fabric was imported from Japan, and titanium from the United States, and continuous testing was conducted. He also discovered that fusing titanium wire inside the carbon sheet significantly enhances performance. He explained, "When making shafts, we use eight layers of carbon sheets. The performance also varies depending on the angle at which the sheets are wrapped."

Monsta Shaft was launched in 2016. There is also a story behind the brand name Monsta. Monsta is not short for "Monster." It is an abbreviation of "Monday Star." The company name was chosen with thoughts of his daughter in mind. CEO Park explained, "Tour tournaments usually end on Sunday. It means that if Ye-ji wins on Sunday, she will be a star on Monday."

Monsta Shaft is very popular domestically. It targeted KLPGA Tour players and male mid-amateurs. The strategy was successful. Performance improved after using Monsta shafts. Starting with a 10% usage rate on the KLPGA Tour in 2020, it has now reached about 30%. Players such as Lim Hee-jung, Jung Yoon-ji, Jeon Ye-seong, and Choi Hye-jin have reached the top using Monsta shafts. The usage rate among national team players is 50%. Yu Hyun-jo and Lim Ji-yoo, who won the team silver medal at last year's Hangzhou Asian Games, use Monsta shafts. Kim Yang-kwon, Kang Kwon-oh, Jo Baek-gyun, and Shin Cheol-ho are winners of mid-amateur tournaments.

CEO Park is a golf club expert. He is involved in golf from the planning stage to manufacturing, distribution, and sales. Monsta shafts are made entirely of titanium. Titanium wire is inserted throughout the shaft, from the tip (head side) to the butt (grip side). Typical shafts rarely use titanium wire, inserting only about a hand's width near the tip due to cost and technical challenges. CEO Park is confident about the shaft's performance. He emphasized, "We use carbon sheets up to 65t. The key technology is combining carbon and titanium wire. With Monsta installed, you can send the ball 3 to 6 yards straighter." Monsta shafts generate annual sales of 2 billion KRW by leveraging innovative new technology.

Monsta shafts have low torsion and are lightweight, providing excellent repulsion. They come in various colors such as green, sky blue, blue, pink, orange, and black. The product adds style to performance, making it perfect for new-generation golfers. CEO Park said, "The price is high, but it is worth it. The performance is excellent, so it sells well," and added, "Not only new customers but also repurchase rates are high."

It has been perfectly established domestically. The number "77" is maintained. Shafts are supplied only to 77 dealerships nationwide. He said, "There are about 2,000 golf shops and 400 fitting shops in Korea. Increasing dealerships could earn a lot of money, but it doesn't seem to be the right answer," and added, "By supplying only to 77 places, we can protect the dealers' profits and brand value. We maintain an appropriate level to coexist with dealers." More companies are requesting shafts after hearing word of mouth. Currently, about 20 dealerships are courting Monsta shafts.

Since 2021, they have been actively targeting overseas markets. Many offers have come from abroad. Especially, sales are strong in Japan, China, Thailand, Hong Kong, and Indonesia. Compared to three years ago, exports have increased fourfold. Last year, they participated for the first time in the Japan Golf Fair. Now, they plan to challenge bigger stages. Last month, they attended the "2024 PGA Merchandise Show" held in Orlando, Florida, USA. They held several business meetings. He said firmly, "The response at the PGA merchandise show was good. I gained confidence that we can succeed in the US."

CEO Park has become busier this year. Along with Monsta Shaft's entry into the US market, he must also support his daughter's professional career. Park Ye-ji, who became a full member by winning the 15th event of the KLPGA Jump (3rd division) Tour in September last year after being a national team member, passed the seed ranking tournament in November in 34th place, earning the opportunity to compete in the regular tour from the 2024 season. He smiled as a proud father, saying, "I imagine my daughter winning with Monsta Shaft installed," and added, "I plan to go to tournaments and cheer her on enthusiastically."

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