Millions of dollar-funds raised for Olympic golf players in Korea

Millions of dollar-funds raised for Olympic golf players in Korea. December. 17, 2015 10:17. kjs0123@donga.com.

It is expected that the Korean golf players who win medals in the 2016 Summer Olympic in Rio de Janeiro will enjoy a handsome amount of financial rewards. The male and female gold medalists will each get 300 million won (254,800 U.S. dollars), and silver medalists will earn half the first prize money. Even bronze winners will be rewarded with 100 million won (84,960 dollars).

The Korea Golf Association disclosed on Wednesday its reward policy for the upcoming Olympic as golf has been officially included in the Olympic games for the first time in 112 years. A maximum reward worth 50 million won (42,580 dollars) will be provided for the coaches as well. An official of the association said that Korea Gold Association President Heo Gwang-ju has raised 2 billion-won funds to provide the medalists with a higher level of financial rewards than the prize money of tour competitions, by enlisting the sponsorship from GS Caltex, Samsung Group, and KB Financial Group.

Sixty players each from the male and female pools will be chosen to enter the Olympic games based on the Olympic ranking, which is calculated with the results of competitions over two years before July 11, 2016. Each country is allowed to send a maximum two players, but the countries with several players within the 15th standing of the Olympic ranking are allowed to have as many as four players participate in the games.

According to the Olympic ranking as of Wednesday, among the Korean female players, Park In-bee (2nd), Ryu So-yeon (5th), Kim Se-yeong (7th), and Yang Hee-young (8th) are in. Among the male competitors, Ahn Byeong-hoon (17th) and Kim Gyeong-tae (27th) are likely to make the grade. Given that there are as many as 13 players placed within the best 30 female players in the world, the competition for the Olympic games is likely grow even fiercer in the new year.