Key Takeaways
- In 2023, the total market size of the South Korean golf industry reached 18.5 trillion KRW, marking a 12% year-over-year growth driven by post-pandemic recovery.
- Golf-related revenue from memberships and green fees in Korea amounted to 7.2 trillion KRW in 2022.
- The screen golf segment in Korea generated 4.1 trillion KRW in 2023, representing 22% of total golf industry revenue.
- As of 2023, there were 6.8 million registered golfers in South Korea, up 5% from 2022.
- Screen golf players numbered 4.2 million in 2023, comprising 62% of total golfers.
- Male golfers accounted for 68% of total participants, totaling 4.6 million in 2023.
- South Korea had 1,200 golf courses as of 2023, including 850 public and 350 private.
- Total golf course holes in Korea: 45,200 in 2023.
- Screen golf venues: 12,500 locations nationwide in 2023.
- Golf equipment market sales volume: 2.1 million clubs sold in 2023.
- Golf industry direct employment: 250,000 jobs in 2023.
- Indirect jobs supported by golf: 450,000 nationwide in 2023.
- Projected market growth to 25 trillion KRW by 2028.
- Screen golf market expected to reach 7 trillion KRW by 2027.
- Golf participation forecasted to hit 8.5 million by 2025.
South Korea's massive and growing golf industry is thriving across both traditional and screen golf sectors.
Economic Impact
- Golf equipment market sales volume: 2.1 million clubs sold in 2023.
- Golf industry direct employment: 250,000 jobs in 2023.
- Indirect jobs supported by golf: 450,000 nationwide in 2023.
- Tax revenue from golf industry: 2.4 trillion KRW in 2023.
- Export value of Korean golf goods: 1.8 trillion KRW in 2023.
- GDP contribution from golf: 1.2% or 42 trillion KRW equivalent in 2023.
- Average green fee per round: 250,000 KRW on private courses 2023.
- Caddie tip average: 50,000 KRW per round in 2023.
- Corporate entertainment golf expenses: 1.5 trillion KRW deductible in 2023.
- Tourism multiplier effect from golf: 3.2x spending in 2023.
- Local government golf taxes: 1.1 trillion KRW collected 2023.
- Investment in new facilities: 4.5 trillion KRW in 2023.
- Supply chain spending by golf firms: 3.8 trillion KRW 2023.
- Average salary for golf pros: 120 million KRW annually 2023.
- Screen golf venue operator profits: Average 450 million KRW per site 2023.
- Land value uplift from golf developments: 15% average in 2023.
- Import duties on golf imports: 320 billion KRW paid 2023.
- Charity contributions from golf events: 150 billion KRW in 2023.
- R&D spending in golf tech: 280 billion KRW by firms 2023.
- Average course operating margin: 22% for private clubs 2023.
- Screen golf franchise fees: 180 billion KRW collected 2023.
- Golf stock market cap total: 12 trillion KRW listed firms 2023.
- Venture investments in golf startups: 650 billion KRW 2023.
- Consumer spending per golfer: 4.2 million KRW annually 2023.
Economic Impact Interpretation
Facilities and Infrastructure
- South Korea had 1,200 golf courses as of 2023, including 850 public and 350 private.
- Total golf course holes in Korea: 45,200 in 2023.
- Screen golf venues: 12,500 locations nationwide in 2023.
- Premium 18-hole courses: 520 in operation in 2023.
- Public golf courses accessible to non-members: 680 in 2023.
- Indoor golf centers with simulators: 8,200 in urban areas 2023.
- Golf driving ranges: 4,500 facilities with 150,000 bays in 2023.
- Resort-integrated golf courses: 210 properties in 2023.
- Newly opened courses in 2023: 15, adding 270 holes.
- Course acreage total: 120,000 hectares under golf use in 2023.
- Irrigation systems coverage: 95% of courses equipped in 2023.
- LED lighting for night play: Installed on 320 courses in 2023.
- Eco-friendly courses certified: 180 out of 1,200 in 2023.
- Cart paths length total: 25,000 km across all courses 2023.
- Clubhouse square footage aggregate: 4.2 million sqm in 2023.
- Practice greens and bunkers: 2,100 facilities nationwide 2023.
- Water hazard features: 1,800 ponds on courses in 2023.
- Par-72 championship courses: 95 in Korea as of 2023.
- Short courses (9-hole): 420 operational in 2023.
- Renovated courses in past 5 years: 240 by 2023.
- GPS-enabled carts: 85% fleet or 42,000 units in 2023.
- Pro shop outlets at courses: 1,050 locations in 2023.
- Locker room capacities total: 1.1 million lockers in 2023.
- Caddie shacks: 950 structures across private courses 2023.
- Heliports at golf resorts: 45 operational in 2023.
- EV charging stations at courses: 2,400 installed by 2023.
- Toptracer range bays: 3,200 nationwide in 2023.
- Synthetic turf courses: 120 fully converted by 2023.
Facilities and Infrastructure Interpretation
Market Size and Growth
- In 2023, the total market size of the South Korean golf industry reached 18.5 trillion KRW, marking a 12% year-over-year growth driven by post-pandemic recovery.
- Golf-related revenue from memberships and green fees in Korea amounted to 7.2 trillion KRW in 2022.
- The screen golf segment in Korea generated 4.1 trillion KRW in 2023, representing 22% of total golf industry revenue.
- Total golf equipment sales in South Korea hit 2.8 trillion KRW in 2023, up 15% from 2022.
- Corporate golf event spending reached 1.9 trillion KRW in 2022, accounting for 10% of industry totals.
- The Korean golf apparel market was valued at 1.2 trillion KRW in 2023.
- Golf tourism contributed 850 billion KRW to the Korean economy in 2023.
- Premium golf club memberships generated 3.4 trillion KRW annually as of 2023.
- Indoor golf simulator installations generated 1.5 trillion KRW in revenue in 2022.
- Golf course maintenance costs nationwide totaled 2.1 trillion KRW in 2023.
- The overall CAGR of the Korean golf market from 2018-2023 was 8.7%.
- Golf betting and related services added 450 billion KRW to the industry in 2023.
- Luxury golf resort revenues reached 1.1 trillion KRW in 2022.
- Golf lesson and academy fees contributed 950 billion KRW in 2023.
- E-commerce golf product sales surged to 750 billion KRW in 2023.
- Total golf media and broadcasting rights value stood at 320 billion KRW in 2023.
- Golf insurance premiums collected nationwide were 180 billion KRW in 2022.
- Franchise screen golf chain revenues hit 2.3 trillion KRW in 2023.
- Golf club manufacturing exports from Korea reached 1.4 trillion KRW in 2023.
- Caddie service fees aggregated to 650 billion KRW across courses in 2023.
- Golf food and beverage sales at courses totaled 1.8 trillion KRW in 2022.
- Pro shop revenues nationwide were 920 billion KRW in 2023.
- Golf event sponsorship deals valued at 550 billion KRW in 2023.
- Digital golf content streaming generated 280 billion KRW in 2023.
- Golf real estate developments contributed 3.2 trillion KRW in 2023.
- Youth golf program funding reached 420 billion KRW in 2022.
- Senior golf league participation fees totaled 310 billion KRW in 2023.
- Women's golf clinics revenue was 240 billion KRW in 2023.
- Handicap tracking app subscriptions added 150 billion KRW in 2023.
- Golf charity tournament proceeds reached 90 billion KRW in 2023.
Market Size and Growth Interpretation
Participation and Demographics
- As of 2023, there were 6.8 million registered golfers in South Korea, up 5% from 2022.
- Screen golf players numbered 4.2 million in 2023, comprising 62% of total golfers.
- Male golfers accounted for 68% of total participants, totaling 4.6 million in 2023.
- Female participation in golf reached 2.2 million in 2023, a 18% increase since 2020.
- Golfers aged 20-39 made up 42% of the total, or 2.85 million in 2023.
- Over 50s golfers numbered 2.1 million, representing 31% of participants in 2023.
- Youth golfers under 19 totaled 850,000 in 2023, up 12% YoY.
- Corporate golfers (company-sponsored) reached 1.9 million in 2023.
- Weekend golfers comprised 78% of total play frequency in 2023 surveys.
- Average rounds per golfer annually was 28 in 2023.
- Screen golf session average per user was 45 times yearly in 2023.
- Seoul metropolitan area golfers totaled 3.4 million, 50% of national total in 2023.
- Jeju Island golfers numbered 420,000, boosted by tourism in 2023.
- Foreign resident golfers in Korea: 180,000 in 2023.
- LPGA Korea tour professional players: 156 active in 2023.
- Amateur handicap holders: 5.2 million as of 2023.
- First-time golfers in 2023: 920,000, mostly via screen golf.
- Repeat screen golf users: 3.1 million with loyalty programs in 2023.
- Golf club members (traditional courses): 1.2 million in 2023.
- Family golf participants: 680,000 households in 2023.
- Night golf participants grew to 1.5 million in 2023.
- Solo golf rounds accounted for 22% of total play in 2023.
- Group golf (4-somes): 65% of outdoor rounds in 2023.
- High-handicap golfers (>25): 3.4 million or 50% in 2023.
- Elite amateur golfers (<5 handicap): 120,000 in 2023.
- Golf app daily active users: 2.8 million in 2023.
- Social media golf influencers followers total: 15 million in Korea 2023.
- Tournament entrants annual average: 450,000 across events in 2023.
Participation and Demographics Interpretation
Trends and Future Projections
- Projected market growth to 25 trillion KRW by 2028.
- Screen golf market expected to reach 7 trillion KRW by 2027.
- Golf participation forecasted to hit 8.5 million by 2025.
- New course openings projected: 50 by 2030.
- EV cart adoption to 100% by 2028.
- AI simulator penetration: 80% of venues by 2026.
- Women's participation to reach 40% by 2030.
- Youth programs to double to 1.7 million by 2027.
- Golf tourism visitors: 2 million annually by 2028.
- Sustainability certifications: 50% courses by 2030.
- Metaverse golf users: 1 million by 2026.
- Equipment e-sales to 60% of total by 2027.
- Corporate golf decline: 20% drop by 2028 due to regulations.
- Indoor golf CAGR: 15% through 2030.
- Handicap digitalization: 100% by 2025.
- Luxury memberships growth: 10% YoY to 2030.
- Golf fitness integration: 70% facilities by 2027.
- Overseas course investments: Double to 100 by 2030.
- Data analytics adoption: 90% pros by 2026.
- Short-game focused venues: Triple by 2028.
- Personalized club fitting: 75% market by 2027.
- NFT golf collectibles market: 500 billion KRW by 2028.
- Drone surveillance on courses: 60% by 2026.
- Wellness golf resorts: 50 new by 2030.
- Esports golf tournaments: 100 events yearly by 2027.
- Carbon-neutral courses: 30% by 2030.
- VR training modules: Used by 2 million by 2026.
- Subscription models for gear: 40% revenue by 2028.
- Inclusive golf for disabled: 500,000 participants by 2030.
Trends and Future Projections Interpretation
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