'Masters 개최' Augusta National "Contributes 2.5 Billion KRW to Overcome 'COVID-19'"

[Asia Economy Reporter Kim Hyun-jun, Golf Specialist] "Overcoming 'COVID-19' first."

The Augusta National Golf Club in Georgia, USA, which hosts the Masters (photo), has donated $2 million (24.5 billion KRW) to help prevent the spread of the novel coronavirus infection (COVID-19). Fred Ridley, chairman, said on the 31st (Korean time), "We want to help the Augusta community and others suffering from 'COVID-19,'" adding, "We will donate $1 million to Augusta University, which is increasing production of diagnostic equipment, and the remaining $1 million will be used to support vulnerable groups."

The Masters was scheduled to be the first major of the 2020 season on April 10. This tournament is especially famous for its differentiated marketing, generating as much as $125 million (152.8 billion KRW) in revenue without a title sponsor. There is even a statistic that more than half of the CEOs of the top 500 U.S. companies selected by Forbes visit Augusta. This is why more than 200,000 tourists flock to the small city of Augusta, which has a population of only 200,000, exceeding the number of residents.

However, this year, due to the impact of 'COVID-19,' the event was postponed indefinitely, causing serious damage to the local economy. The recent rumor of an "October event" is a consolation. Augusta National usually closes in May and reopens in October. In fact, hotel accommodation prices in the Augusta area are already soaring. According to Golf Digest, based on information from insiders, "At least one month of preparation is needed to achieve the most suitable turf conditions for the tournament," and November is expected.