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 Global golf tech company AGL (AGL Co., Ltd., CEO Jim Hwang) received a $300 million Series B investment on March 13th, recognizing the technological prowess and market potential of the world's first golf booking system, TIGER GDS (Global distribution system).

 The investment involved participation from four major financial group venture capitals (VCs) in Korea- KB Investment, Shinhan Venture Investment, Hana Ventures, and Woori Venture Partners - as well as KDB Bank, alongside leading VCs such as SV Investment, TS Investment, and Kolon Investment. Of particular note, this investment has garnered industry attention for the unprecedented simultaneous investment from the four major financial groups - Shinhan, KB, Hana, and Woori - and KDB Industrial Bank, drawing intense focus on the background behind the investment.

 Financial institutions have long shown significant interest in VIP golf marketing. The four major financial groups have been sponsors of the Korea Professional Golf Association (KPGA) Tour or the Korea Ladies Professional Golf Association (KLPGA) Tour. They have utilized golf for brand promotion and customer service by hosting VIP customer invitation golf tournaments, offering discounts and cashback benefits for golf course usage, among other initiatives.

 Since the outbreak of COVID-19, the golf population has seen explosive growth, further increasing the utility value of golf in attracting new customers. As international golf travel resumes after the pandemic, there has been a significant increase in the number of golfers traveling to countries such as Japan, Thailand, and Vietnam during the cold winter and vacation seasons. Additionally, golfers who were previously deterred by costs are now returning to prestigious courses in the United States and Europe.

Furthermore, golf has become increasingly important in pioneering global market expansion for financial firms. With the growing population of golfers, the number of golf courses worldwide is also on the rise, reaching approximately 38,000. In any major foreign market, leveraging golf for market exploration and marketing has become not just a choice but a necessity in establishing distinctive golf services.

 AGL has developed a new booking system technology represented by TIGER GDS, allowing golfers to easily search for and reserve/pay for tee times at their desired golf courses, with real-time confirmation of bookings—a previously unavailable method of golf course utilization. Additionally, VVIP golfers can access the world's top 100 courses selected by leading golf magazines and organizations through AGL's partnership channels.

 Furthermore, AGL has garnered high investment ratings due to its partnership with global search engines, major travel agencies, online travel agencies (OTAs), and renowned airlines, among others, spanning across nations, thus enabling services not only for Korean golfers but also for golfers worldwide.

 The digital transformation of overseas golf travel has been slower compared to other industries. Delays in standardizing IT solutions, including GDS, have led golfers to tolerate the inconvenience of offline booking/payment centered around travel agencies for golf trips. However, since the full-scale launch of Tiger GDS's global golf booking service, it has been recognized as a solution that addresses the structural limitations of golf travel through systems.

Currently, over 1,300 golf courses in more than 30 countries are integrated with TIGER GDS, and recently, connections to around 30 domestic golf courses, including those in Jeju Island, have been completed. AGL enables financial firm clients to book a diverse range of golf courses worldwide in real-time. Moreover, through AGL, exclusive customer service, including booking access to prestigious member-only golf courses and the world's top 100 courses, is available for VVIP customers, providing differentiation in customer service.

 AGL has already been providing golf tee time reservation services to overseas golfers in countries such as Singapore and Japan. With the ability to offer partnership services immediately after the financial institution's overseas expansion, it is expected to greatly assist in securing local customers and marketing efforts. The potential for AGL's global growth in this regard is the primary reason why both the Industrial Bank and the four major financial institutions simultaneously executed a significant investment of 30 billion KRW.

 AGL plans to accelerate its global business expansion through the recent Series B investment from the four major financial groups in Korea and KDB Industrial Bank. This investment will facilitate the expansion of domestic and international partnership golf courses, secure partner channels, and advance global golf tee time booking services.

Sources : Global Golf Times(http://www.globalgolftimes.com)

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