Joseongjun Showgolf CEO: "We Have to Hit a Three-Run Home Run"

Acquisition of Japan Satsuma Golf Resort
XGolf Challenges for a Big Hit Following ShowGolf
Golf Course Business Success with 2025 IPO Plan
"Various Attempts Including K-Pop Concerts and Pool Parties"

Hitting a home run in baseball is not easy. Consecutive home runs are a rare sight. There is an entrepreneur attempting to hit three consecutive home runs. He is Seongjun Cho, CEO of ShowGolf. On the 4th, he acquired Kagoshima Satsuma Golf Resort from Daiwa Securities Group, one of Japan's top 100 companies. In an interview with Asia Economy on the 15th, he said, "After the booking platform XGolf and the golf practice brand ShowGolf, I have ventured into a new business with a golf resort," adding, "We will make a mark by providing customized services that golfers want."

Joseongjun, CEO of ShowGolf, expressed strong confidence, stating, "We will hit a home run in the golf course resort business following our success with XGolf and ShowGolf."

This is the first time a domestic company has acquired a golf resort from a major Japanese corporation. Satsuma Golf Resort is a large-scale complex situated on a 1.25 million square meter site, equivalent to about 195 soccer fields, featuring an 18-hole golf course, a resort with 70 rooms, and various auxiliary facilities. The golf course is a standard 18-hole championship course built to international standards. It boasts excellent conditions, having hosted the Kyocera Ladies Open, a senior tournament on the Japan Ladies Professional Golf Association (JLPGA) Tour. Located at the southernmost tip of Japan, it allows for short-sleeve rounds even in November.

CEO Cho explained, "After COVID-19, domestic green fees skyrocketed, so I expected golfers' interest to shift overseas. I had been keeping an eye on overseas golf resorts since the domestic golf boom began." He added, "The reason for choosing Japan is that it is more affordable than domestic options and easily accessible. Satsuma Golf Resort is close to the airport, making access convenient, and since it is owned by a solid large corporation, there was no risk in the transaction between foreign companies."

Of course, acquiring a Japanese golf resort was not an easy task. It took six months from the first meeting to signing the contract. CEO Cho said, "There were cultural differences and differences in work styles, which caused the process to take longer than expected." He continued, "In Korea, XGolf is somewhat recognized, but it was not easy to explain here. It felt similar to when I started the business 20 years ago." Since the first negotiation, CEO Cho has traveled to Japan more than ten times. Before the contract was finalized, he even booked rooms at his own expense to inspect the resort. He recalled, "I checked everything from the condition of the golf resort to local tourist spots. When the contract was completed, the employees who had been preparing with me for months came to mind first."

Satsuma Golf Resort, acquired by Cho Sung-jun, CEO of Show Golf, is a large-scale complex featuring an 18-hole golf course, 70 guest rooms, a swimming pool, an open-air bath, tennis courts, a soccer field, and various other facilities.

Satsuma Golf Resort features a 3,300㎡ retractable indoor-outdoor swimming pool, an open-air bath using natural volcanic hot spring water, six tennis courts, and a natural grass soccer field famous as a training site for domestic soccer teams and the J-League. Additionally, it is fully equipped with a sauna, restaurant, table tennis room, yoga studio, and seminar rooms. CEO Cho expressed confidence in the success of Satsuma Golf Resort. He explained, "The resort has many advantages, including rooms, the golf course, and climate. Above all, it is a strength that a domestic company operates it directly." He added, "ShowGolf has long experience in the domestic golf industry and understands the needs of Korean golfers well. We will demonstrate ShowGolf's unique success know-how at Satsuma Golf Resort."

CEO Cho plans to apply creative ideas at Satsuma Golf Resort. Like ShowGolf, which succeeded with the slogan 'A golf playground like no other in the world,' he intends to approach the golf resort business in a new way. He emphasized, "We approached golf in a fun way. We have made it a golf playground enjoyable for all ages and genders. Our golf resort will be the same." He said, "We are considering holding K-pop concerts at the golf course and even pool parties," stressing, "We will not stick to traditional golf course methods but will try various new attempts."

Joseongjun, CEO of Show Golf, promised, "We will hold various events such as K-pop concerts and pool parties at Satsuma Golf Resort."

CEO Cho is determined to take on the golf course business in Japan. He aims to acquire five additional golf resorts in the future. He said, "For now, the goal is to operate Satsuma Golf Resort successfully. After acquisition, we will introduce unique memberships and golf-related products exclusive to ShowGolf." He has set a target for ShowGolf's initial public offering (IPO) in 2025. CEO Cho revealed his ambition, saying, "We will continue to expand ShowGolf and are considering franchise business in addition to directly managed stores. I want more people to know what kind of company ShowGolf is, which started with 5 million won."