Korea’s screen golf market
|Author||Hwaseob Kim||Date||2017.05.17||Issue No|
As screen golf clubs have become numerous in residential areas, the accessibility to golf has become higher. As a result, interests on economic values of golf clubs have been on the rise. Against this backgrounds, this study strives to examine market sizes of screen golf clubs and its prospects. In order to estimate market sizes, it is necessary to understand the principle of market value chains (primary market and derivatives market). Market value of screen golf clubs is worth 1.2 trillion won, which equals 32% of field golf course value (3.165 trillion won). It means that the market value of screen golf clubs exceeds that of outdoor and indoor golf clubs, which is 812.2 billion won and 143 billion won, respectively. Besides, it also exceeds the value of professional golf market, for example, indoor and outdoor golf club, KPGA and KLPGA (based on primary market). It means that screen golf club market is one of the two major driving forces combined with field golf market which lead the overall golf market. Recently, however, screen golf industry has faced a challenge. It has entered a maturing stage. It means that screen golf market requires to be changed. It is expected that progress will be made in the enhancement of service, differentiation, diversification of business, and developing new markets via technology application, etc. Above all, strategies to enter new markets via technology application require R&D and business operators. In the process, policy demand may be generated, for example, technology directions and finance, etc.