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GOLFZON, the nation’s top golf simulator maker, said Thursday it signed an exclusive product distribution contract with Guangzhou-based Byron Asset Management in its efforts to expand its business in mainland China.
“Under the contract, the company will supply at least 200 golf simulators to China’s third largest city via the Chinese partner for the next two years,” GOLFZON said in a press release.
“The contract has set a milestone for the company to tap the Chinese market with high growth potential,“ GOLFZON CEO Jang Sung-won said at the signing ceremony, held at the Marriott Hotel in Shanghai.
“It is a win-win partnership to offer a new golfing experience to the Chinese golf lovers,” said Chen Sze Long, the head of Byron Asset Management in Guangzhou.
The Korean golf simulator maker continued to say that the tie with Byron, whose founding member has close relationship with the Chen Family, will be helpful to extend its business domain in China.
The Chen Family is the controlling shareholder of Agile Property Holdings, listed in the main bourse on the Hong Kong Stock Exchange.
GOLFZON, established in Seoul in 2000, is a global leader in the virtual golf industry. With the golf simulator-based business model, the company is presenting a new way of enjoying golf at an affordable price.
Riding on the popularity of simulation golf, the company exports its golf simulators to more than 30 countries in Asia, North America, Europe and other continents, the company said.
In 2014, the company’s sales amounted to 429.5 billion won ($379.5 million).
By Seo Jee-yeon (jyseo@heraldcorp.com)
