Genesis held the 'Genesis-KPGA Official Sponsorship Extension Signing Ceremony' at Genesis Gangnam on the 29th. From the left in the photo, Lee Yong-woo, Vice President of the Genesis Business Division, and professional golfer Hong Soon-sang, the KPGA Korean Tour player representative, are posing for a commemorative photo. (Photo by Genesis)
[Asia Economy Reporter Kim Ji-hee] Genesis will extend its sponsorship of the Korea Professional Golfers' Association (KPGA) Korean Tour for four more years.
On the 29th, Genesis held a 'Genesis-KPGA Official Sponsorship Extension Signing Ceremony' at Genesis Gangnam on Yeongdong-daero, Gangnam-gu, Seoul, attended by Lee Yong-woo, Vice President of Genesis Business Division, and professional player Hong Soon-sang, the KPGA Korean Tour player representative, among other officials, the company announced on the 31st. With this sponsorship extension, Genesis plans to provide a total sponsorship fund of 1.6 billion KRW to KPGA over four years from 2020 to 2023.
Genesis has sponsored KPGA for four years from 2016 to 2019. It has continuously supported the development of the Korean golf industry, including introducing the 'Genesis Points,' the first tour points prize system in the history of the Korean men's golf tour. In particular, this year, Genesis decided to prepay a portion of the 'Genesis Points' bonus prize money to all players to support Korean Tour players facing difficulties due to the suspension of official tour events caused by the COVID-19 pandemic.
Additionally, Genesis is preparing to hold the 'Genesis Championship,' now in its fourth year, scheduled for early October this year.
The Genesis Championship boasts the highest level of players and the largest prize money among domestic tournaments, offering challenging courses and well-organized programs for galleries every year. Furthermore, it operates a 'Michelin Food Zone' within the golf tournament venue and hosts various cultural events such as activity experience spaces and performances by famous singers.
Vice President Lee said, "We hope that the extension of Genesis's official sponsorship of KPGA and the prepayment of part of the Genesis Points bonus prize money will help revitalize the stagnant domestic men's golf tour," adding, "Genesis will continue to make efforts to develop Korean golf culture by presenting various golf marketing initiatives."
Professional player Hong said, "I am grateful to the Genesis officials for making this meaningful decision during difficult times," and added, "I will do my best in every tournament to repay with great performances and bring joy to fans."
Meanwhile, Genesis will participate as a sponsor in the 'KPGA Skins Game 2020' to be held on June 1 at Plaza CC Yongin in Cheoin-gu, Yongin-si, Gyeonggi-do.
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