Golf courses and screen golfing
Although the number of golf courses in Korea has roughly remained the same, the profit margin of golf courses has risen substantially in recent years. During the pandemic, more people visited outdoor golf courses because they could enjoy social activities while keeping social distancing regulations. Among this influx, the entry of the younger generation into the golf market is notable. Unlike in the past, when golf was considered a sport for the older generation, the barriers to entry have been lowered thanks to online golf courses and cheap screen golfing.At the same time, the indoor screen golf business also grew. Screen golf is a particularly popular business in South Korea. It is also called a golf simulator, as users can enjoy golf via a virtual simulation display on a large screen. Golfzon, the largest domestic screen golf company, achieved sales of 440 billion won in 2021. South Korean tech company Kakao also launched a golf business, attracting the attention of the younger generation with its Kakao Friends character products.
Golf shopping trends
The rising popularity of golf has also had an impact on the golf equipment market. In 2021, golf equipment imports hit an all-time high. Golf clubs were the most imported golf equipment, and Japan, China, and the United States were the major exporters to South Korea.The golf wear market is also growing by more than 10 percent every year. As of 2021, golf wear sales at department stores increased by more than 50 percent compared to the previous year. Against this backdrop, golfers in their 20s and 30s are generously opening their wallets to more expensive and rare luxury golf wear. One survey found that female golfers spent more on golf wear than male golfers, and younger golfers spent more than older golfers. In line with this consumer trend, fashion companies are focusing on launching golf wear brands to attract young golfers.
