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[Yanolja Research Insights] Vol.17 Current Status and Future Challenges of the Golf Industry

The Korean Golf Industry: Key Trends and What’s Next

The golf industry in Korea is experiencing significant changes. Here’s a quick look at the latest trends and what they mean for golfers, businesses, and the future of the sport.


Domestic Golf Demand: A Turning Point

  • First Decline in Nearly 20 Years: In 2023, the number of golf course users in Korea dropped by 5.7% compared to the previous year, despite an increase in the number of courses.
  • Regional Impact: Jeju saw the sharpest decrease, with a 15% drop in users. Other regions, including Jeonnam, Gangwon, and Chungbuk, also experienced notable declines.


Korean Golfers Look Abroad

  • Shift to Overseas Golf: As international travel resumed, more Korean golfers are choosing to play abroad. The percentage of domestic travelers playing golf is falling, while overseas golf participation is rising.
  • Cost Matters: High green fees at home are a major factor. Overseas golf, especially in Southeast Asia, is often much more affordable and offers the added appeal of travel.


Changing Preferences: Value and Flexibility

  • No-Caddie and Self-Cart Rounds: Over 80% of Korean golfers now prefer self-rounding options to save on costs, with this trend especially strong among those in their 40s and 50s.
  • Shorter, More Accessible Golf: There’s growing interest in shorter rounds and alternative formats like park golf, which are more affordable and accessible for all ages.


Demographic Shifts: The Baby Boomer Effect

  • Aging Core Customer Base: The retirement of the Baby Boomer generation, long the backbone of Korean golf, is expected to further reduce demand.
  • Long-Term Outlook: While the next generation of retirees is more financially secure, a gradual decline in golf participation is anticipated as demographics shift.

Golf in Korea is evolving. Now is the time for innovative strategies and fresh ideas to ensure the sport remains accessible and exciting for everyone. What strategies can ensure a sustainable future for the industry?

Want to learn more?

Visit our official website for the full analysis, in-depth data, and recommendations on the future of golf in Korea.

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Location: Seoul, Korea

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