Hanwha Q Cells will stop hosting the KLPGA Tour's 'Most Prize money' Hanwha Classic from next year
Hanwha Q Cells will stop hosting the KLPGA Tour's 'Most Prize money' Hanwha Classic from next year
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Hanwha Q Cells will stop hosting the Major Hanwha Classic after the end of this year, which was the most prize money competition for the Korean Ladies Professional Golf Association (KLPGA) tour. It will also not renew contracts for players who are active in the U.S. Ladies Professional Golf Association (LPGA) and the Japan Ladies Professional Golf Association (JLPGA) tour.
Hanwha Q Cells issued a statement on its official website on the 29th on reducing its golf sponsorship operation, saying, "We have decided to stop holding golf competitions after the Hanwha Classic 2024 held in August," adding, "We will not renew the contract for overseas tour players of the Hanwha Q Cell Golf Club, whose contracts end this season."
Hanwha Classic has offered 1.7 billion won in total prize money since last year, the largest amount of prize money among KLPGA Tour tournaments. In particular, it has been leading the Seoul Women's Open, the first international competition on the KLPGA tour, since 1990, and has continued its tradition for more than 30 years this year. In 2017, the competition, which has been promoted to a major competition and has established itself as a KLPGA tour competition with tradition and authority, has disappeared into history.
Hanwha Q Cells said, "The decision is based on a review of the appropriateness of the business strategy and golf sponsorship, and follow-up measures related to the suspension of the tournament are being smoothly discussed with the Korea Ladies Professional Golf Association (KLPGA)." 스포츠토토
"We have been holding Hanwha Classic with the aim of strengthening the domestic golf industry, and we have tried to raise the status of the domestic women's golf tour throughout the prize money scale, planning, and operation as a major tournament," he said. "While the domestic women's golf tour has grown to the highest prize money ever and has established itself as a popular sport enjoyed by a wide range of age groups, Hanwha Q Cells intends to give up the opportunity to sponsor golf to other companies or institutions."
He also expressed his sincere gratitude to Hanwha Classic for its support and encouragement.
However, an official from Hanwha Q Cells said, "We will continue supporting KLPGA Tour players scheduled until next year as scheduled."