The golf course bookings are full bookings every day, and round fee is about $200, and if you pay for caddies and carts and simple meals and drinks, you have to do about 300 rounds. And, the high-end (high-end) golf course membership market, which exceeds $1 million, is fluctuating. This is because overseas golf travel has been blocked due to the COVID-19 special and the increase in the domestic golf population has driven demand to enjoy easy reservation and luxurious golf. Even so, the transaction cannot be made due to a lack of sales compared to demand. High-end membership is also emerging as a new investment destination to replace real estate or stocks as it can enjoy high-quality golf services in anticipation of profit-taking.
Despite the sharp increase in annual fees, it is said to be zero membership
“Apartment price” (Apartment is a symbol of living in Korea) Membership of a high-end golf course…”I can’t buy it because I don’t have it.” Recently, Hasley Nine Bridge in Yeoju, Gyeonggi Province, run by CJ Group (representative food companies such as Bibigo) was a hot topic among golf lovers. This is a representative high-end golf course considered a “Korean Augusta” thanks to its luxurious club culture and beautiful courses.Hasley Nine Bridge recently informed existing members of its plan to raise annual fees next month, saying, “If you want to leave the club due to the burden of raising annual fees, we will return the annual fees for the past 10 years.” It also offered to connect waiting people who wanted to join if they wanted to change their names. However, none of the 200 members left. In the golf membership market, the response is “of course.” An industry official said, “Even if we get about 100 million won to 300 million won back right now, it is difficult to find other memberships that can receive services like Nine Bridge and there is no guarantee that we can sign up again.”We also judge “dignity” for money
Representative high-end golf courses in Korea are Nine Bridges, Anyang, Gapyeong, Dongnae, and Anseong Benest CC operated by Samsung C&T, Shinsegae’s Trinity CC, and LG Group’s Gonjiam CC. There are also Nambu CC and Namchon CC, which are considered “emperor membership” worth more than 1 billion won. Any golfer wants to experience it at least once, but membership is not easily available on the market.Many high-end golf course memberships are not available on the market. Anyang CC, Gonjiam CC, and Trinity CC prohibit the external distribution of membership. Some of them are distributed in Gapyeong Benest CC, but there have been no sales in recent years, so only waiting demand and inquiries have been accumulated. The current market price for membership is 950 million won. However, Lee Hyun-kyun, head of Ace Membership Division, said, “There is only a asking price,” adding, “In fact, it is estimated to have well exceeded 1 billion won.”No matter how much money you have, you can’t get high-end golf course membership if you don’t meet certain standards. If it is judged that you do not have a ‘class’ as a member, you will be denied admission.
In other words, membership ownership itself can reveal social status. In addition, Psy’s Gangnam-style Gangnam entertainment establishments (three representative places) are located in Yeoksam, Daechi, and Samseong-dong, Gangnam-gu. Imported cars do not stop here every day from 6 p.m. to dawn for valet parking. After selective maintenance in more than 50 private rooms, illegal sex trafficking takes place in hotels directly connected. Usually, these consumption and services are spent about $3,000 to $5,000, but there are no illegal crackdowns, and customers flock every day.There are about 200-300 prostitution women working at these establishments alone, and about 500 people work per establishment, including waiters and managers.In addition to the three entertainment establishments that boast sales of $500,000 to $1 million a day, about 100-200 small and medium-sized entertainment establishments are distributed in Nonhyeon, Yeoksam, Daechi, and Seocho-gu, Cheongdam-dong. This refers to Gangnam Bay, and the number is incalculable if it includes Gangbuk and large cities across the country. What’s ironic is that this is being done at a nearby police station branch office, and if there is no report or incident, it is left unattended and rather protected.
EJ SONG
ASIA JOURNAL
