| Golf tech company AGL successfully raises investment | 1/3/2024 |
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Golf tech company AGL (CEO Jim Hwang) has successfully secured investment from major domestic and international investors. According to AGL on the 2nd, this investment round saw the participation of the state-run bank, KDB Industrial Bank, and the global investment firm SV Investment. With this investment, AGL's corporate valuation has been recognized to be over 100 billion KRW. AGL is a venture company that pioneered the development of the TIGER GDS, which connects golf courses worldwide with golfers in real-time. Through TIGER GDS, AGL offers a service that allows anyone to book and pay for golf courses and golf resorts worldwide in real-time, similar to airline and hotel reservations, all through mobile devices. Currently, AGL's TIGER GDS service is being utilized by partner companies such as Asiana Airlines, Shinhan Bank, LG CNS, Heytime, and WAG, as well as golfers. Additionally, AGL has contracts with global OTAs (Online Travel Agencies) including Expedia, Agoda, Rakuten Travel, and one of Singapore's three major banks, United Overseas Bank (UOB), to establish services for overseas members and golfers. Particularly, the rapid growth seen within just one year of launching full-fledged golf course reservation services is attributed to its success in attracting investment. Since the service was launched in 2022, AGL has expanded to cover over 1,000 golf courses in 21 countries, including more than 20 of the world's top 100 courses. It has established itself as the largest golf platform in Asia, with over 430,000 open tee times daily. The number of individuals who traveled for overseas golf trips using AGL's partner channels increased by more than 35 times compared to 2022. An AGL representative stated, "In the latter half of this year, we plan to introduce innovative services that go beyond what golf travelers around the world have imagined." They also mentioned, "We will continue to make relentless efforts to offer the convenience and affordability that golfers need, allowing them to book and pay for their desired golf travel destinations in real-time." Sources : Maeil Business Newspaper (https://www.mk.co.kr/) |
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| Attachments | Download a written proxy statement form |
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