A golf course on Jeju Island (Image courtesy of Yonhap)
SEOUL, June 14 (Korea Bizwire) — Once a symbol of status and a booming lifestyle trend during the pandemic, golf in South Korea is now facing a quieter season. The latest figures show that the country’s imports of golf equipment plunged over 23 percent last year, falling to approximately 756.6 billion won (US$557.7 million) — a signal that both economic pressures and shifting demographics are cooling the nation’s golf enthusiasm.
The data, released Thursday by the Korea Leisure Industry Institute, underscores a reversal in momentum for an industry that saw unprecedented growth during the COVID-19 era, when outdoor sports surged in popularity. In 2022, golf equipment imports hit an all-time high of $877 million, only to decline steadily over the next two years.
“The decline is not just about purchasing power,” said Seo Cheon-beom, head of the Institute. “It reflects a broader transition in leisure spending, compounded by an economic slowdown and a noticeable drop in the number of younger golfers.”
Indeed, the 20s and 30s age groups — once seen as the emerging backbone of Korea’s golf boom — are pulling back, according to the institute. Rising inflation, job market uncertainties, and shifting lifestyle choices are all reshaping consumer habits, even in affluent circles.
Golf equipment exports also edged down slightly in 2024, totaling $137.8 million — a 0.4 percent year-on-year dip. That left the nation with a trade deficit of $419.9 million (about 569.6 billion won) in the golf sector alone, highlighting a persistent reliance on foreign-made products despite the size of Korea’s golf economy.
Japan remained South Korea’s top trading partner in golf gear, exporting $214.4 million worth of goods. Still, even that relationship saw some moderation: the trade deficit with Japan in this category shrank by over 37 percent from the previous year to $190.2 million.
Notably, the downward trajectory has continued into 2025. From January to April, the golf equipment trade deficit was recorded at $149.7 million — down more than 24 percent from the same period last year.
For Seo and other analysts, the trend presents both a warning and an opportunity. “The government should see this as a chance to invest in domestic manufacturing for golf equipment,” he said. “Not only could this help reduce foreign currency outflows, but it would also support the 5 million golfers across the country who are facing higher costs.”
The full report, including detailed statistics and projections, is included in the Korea Leisure Industry Institute’s newly published Leisure White Paper 2025 — a document that captures not only the state of play in Korean recreation, but the shifting rhythm of the nation’s lifestyle economy.
Ashley Song (ashley@koreabizwire.com)