The minimum total prize money for the KPGA Tour tournament has increased from 500 million won to 700 million won. The first part of the Korean men’s professional golf tour will also be renamed the KPGA Tour from the existing KPGA Korean Tour.
The KPGA held this season’s KPGA tour schedule and a press conference of newly inaugurated chairman Kim Won-seop at the Press Center in Jung-gu, Seoul on the 6th. Chairman Kim Won-seop served as a reporter for the Munhwa Ilbo, director of IMG Korea, head of J Golf Headquarters of Central Media Group, and special advisor for KBL president. He worked as an advisor to Pungsan Group and executive director of the First T Korea Foundation.
“It is an infinite honor to lead the association. The association’s executive branch is entrusted with the management of its members,” said Kim Won-seop, chairman of the association. “We will work hard for the benefit of our members and sponsors for four years.”
According to the schedule announced by the KPGA, the opening game of this season is the DB Insurance Promy Open, which will take place at Raviebel CC in Chuncheon, Gangwon Province for four days from April 11. Starting with this, the season will run for about seven months until the KPGA Tour Championship ends on November 10. The number of competitions is the same as last season’s.
Seven competitions will be launched this season. The KPGA Founders Cup with Han Mac CC in April, the OOO Open in May, the Web Cash Group-Wonder Club Open with Club 72 in June, the OO Open in September, the Charity Open of Dong-A Socio Group in October, the OOO Open and the KPGA Tour Championship will take place in late October and early November.
If all the 000 or 00 Open titles whose title sponsor is not disclosed are held, the competition will be filled with 22 competitions. “More than 90 percent of the competitions will be held,” KPGA Chairman Kim Won-seop said with confidence.
Four of the 22 competitions scheduled to be held have yet to be determined in total prize money. Currently, the total prize money based on 18 competitions is 18.15 billion won. The total prize money will be announced later on the GS Caltex Maegyeong Open, Kolon Korea Open, Genesis Championship and OOO Open for new competitions.
Last year, GS Caltex Maegyeong Open was worth 1.3 billion won, Kolon Korea Open was worth 1.4 billion won, and Genesis Championship was worth 1.5 billion won. When the prize money for the three yet-to-be-determined competitions and the OOO Open is announced, the total prize money for this season’s tour is expected to exceed 23 billion won. The number of existing competitions, the record for the most total prize money, and the highest average prize money is 23.7 billion won, and about 1.079 billion won, with 22 competitions in 2023.
The total prize money for the four competitions has increased. The Hana Bank Invitational and the Golf Zone-Doray Open have decided to increase their awards by 300 million won, respectively, from 1 billion won to 1.3 billion won, and from 700 million won to 1 billion won.
The Gunsan CC Open also increased by 200 million won from 500 million won to 700 million won. As a result, the total prize money for this season’s KPGA Tour event has reached 700 million won. The total prize money for the championship was 500 million won until last year.
Chairman Kim Won-seop said, “From a player’s point of view, the total amount of prize money is inevitably important,” adding, “I am grateful to the sponsors, partners, and golf industry officials in Korea who helped us play a prosperous season.”
In particular, Chairman Kim Won-seop vowed to create a sound KPGA organization. “We are closely watching Asian Tours and LIV Golf to keep pace with the rapidly changing world of golf,” Chairman Kim said. “It is important to have sound quality so that KPGA does not fall behind.”
Chairman Kim Won-seop said, “It is a professional’s physiology that players move to seek high prize money. I am trying to strengthen the KPGA by watching those areas sensitively.”
However, there was no new competition hosted by Pungsan Group, where Chairman Kim Won-seop served as an advisor. Chairman Kim Won-seop pledged to attract 10 billion won (approx. Expectations were high for a new competition hosted by Pungsan Group this season 라바카지노도메인.
In response, Chairman Kim Won-seop said, “Pungsan Group has been supporting the KPGA Championship. As it is the best and most important competition in the men’s competition, a large amount of budget will be invested there. Other than that, we will allocate operating funds appropriately.”
Regarding the name change to the KPGA Tour, Chairman Kim Won-seop said, “There have been many opinions that the name of the Korean Tour has been used a lot in other sports recently, and we decided that it is most appropriate to use the KPGA Tour for clearer meaning after various discussions.”
