SEOUL, KOREA - The size of Korea's golf course industry has surpassed the 4-trillion-won level for the first time last year. According to the "Leisure Industry White Book 2013" published on May 21 by the Korea Leisure Industry Institute, the total sales revenue of golf courses, including admission fees, cart fees, caddie fees, and foods and beverages, last year was 4,073.7 billion won.
The golf courses included in the survey were 228 members-only courses, 146 public courses, 32 military-owned courses. Of these, the revenue of 228 members-only courses was the largest with 2,262.8 billion won. But the amount was 1.3 percent lower than the previous year's 2,292.4 billion won. Meanwhile, the sales revenue of 146 public courses rose 12.8 percent to 1,048.2 billion won from 928.9 billion won in 2011.
In all, the total income from the 406 golf courses across Korea was 3,399.0 billion won. If 674.7 billion won of caddie fees are included in this, the nation's golf course industry size will come to 4,073.7 billion won. Normally, caddie fees are not counted as a golf club revenue item.
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