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The Total Price of Golf Membership is 11 Trillion Won

Posted July. 31, 2002 22:10,   


As the number of golfers is increasing, it is estimated that the total value of the golf membership exceeds 11 trillion won.

The aggregate value of listed stock in KOSDAQ was 47.9417 trillion won as of the 30th. Therefore, if we sell all of the golf memberships, we can buy a quarter of stocks of the 820 listed companies at KOSDAQ including KTF, the Gangwon Land, and Kukmin Card.

Among the 120 membership golf courses that the National Tax Service notifies the base price of the membership on the 30th, the total membership price of the 98 golf clubs, which publicized the number of members through the Ace Membership Trading Service and the Dong-Ah Membership Trading Service, is over 8.3 trillion won.

The average number of members in those golf clubs was 1051, and the average total membership price was 84.7 billion won.

If we presume the total membership price of the other 22 unpublicized golf clubs according to those averages, it will be 1.8639 trillion won. If we add the total membership price of the 98 golf clubs and the 22 golf clubs, it is 10.1666 trillion won.

In that total, 59 memberships other than the regular membership such as the weekday membership, the special membership, and women’s membership are excluded, so the actual total price is much more than that.

What is more, if we consider the fact that the base price that the National Tax Service determines is 90% of the real value, the actual total membership price is at least 11.3 trillion won.

A manager of the Ace Membership Trading Service Son, Jung-Yong predicted, “Since the first rate golf clubs such as the East Valley, the Gapyeong Benest, the Rex Field, and the Namchon Pine Creek are selling their memberships for 400 ~ 500 million won, the total price will be increased even more quickly.”

Kwang-Am Cheon iam@donga.com