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S. Korea's public golf courses push operating profits 40% on the back of golf boom
South Korean public golf courses pushed their operating profits to an all-time high of 40.5 percent as they hiked their green fees 19 percent from a year ago, stirring up resentment among golfers that have swelled to 46.7 million in 2020, up 12.1 percent from a year ago.
Public golf courses increased weekday green fees by 19 percent last year despite enjoying a variety of tax benefits, way higher than the 7.4 percent increase in weekday green fees for non-members of private golf courses.
Of 234 public golf courses with over 18 holes, 27.4 percent charged average green fees higher than those for non-members of membership golf courses last year.
Public golf courses also increased cart fees between 80,000 and 90,000 won to 120,000 or 130,000 won.
Additionally, some public golf courses also charge weekend green fees even for those who play on Friday afternoon.