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Golf Course Sales Decline in March

Posted May. 11, 2009 03:04,   


Korean golf courses saw less business year-on-year in March mainly due to the government’s order to public officials to refrain from playing golf and the impact of the economic slump.

A report on the Korean service industry in March released yesterday by the Korea National Statistical Office said March sales at domestic golf courses declined 0.4 percent from the same month last year.

The drop put a sudden end to the steady rise in sales that the industry had enjoyed. Sales grew 11.7 percent in October last year, 14.8 percent in November, and 1.6 percent in December. The golf industry continued to see sales grow despite the struggling economy until February.

The sales decline in March was the first at golf courses year-on-year since March 2004 (minus 4.3 percent).

A Strategy and Finance Ministry official said, “The economic slump could be partially blamed for the sales decline. It also has to do with public officials refraining from golfing due to stronger undercover inspections on their golf course entry.”