This article was displayed on the ChosunBiz MoneyMove (MM) site at 2:40 p.m. on Jun. 12, 2026.
ClubD The Players, a premium public golf course in Chuncheon, Gangwon, is coming up for sale. As part of a recovery process following a fund's maturity, the market is suggesting the sale price could exceed 8 billion won per hole.
On the 12th, according to the investment banking (IB) industry, Pactum Private Equity (PE) is pushing to sell The Players. The Players is a 27-hole public golf course that, though located in Gangwon Province, is considered a prime asset with strong access to the Seoul metropolitan area because it can be reached from southern Seoul by car in about an hour. Continued new town and housing site development across eastern Seoul and in Hanam and Namyangju is also cited as a factor that will expand long-term golfer demand.
The Players is also cited for its open-feel course as a strength. There are almost no blind holes (holes where the landing area is hard to see from the shot point), and the wide spacing between holes is said to improve round stability and comfort. Many golf courses in the Seoul metropolitan area and Gangwon were built by using mountainous terrain, which often limits the line of sight on tee shots or narrows the fairways.
The IB industry also sees the limited supply of new golf courses as a factor supporting The Players' valuation. Golf course development carries heavy burdens for securing land and permits, and recent construction cost increases have further hindered new supply. As a result, analysts say the scarcity of existing high-quality courses with metropolitan access remains high.
In the market, considering that a nearby comparable course recently changed hands at around 8 billion won per hole, there is an outlook that The Players' sale price could be set higher than that.
The swing factor for reception, however, is prospective buyers' expectations for the golf industry itself. Golf course prices, which surged after COVID-19, have recently entered a correction phase. The number of golfers visiting courses has declined for three straight years, and acquisition financing costs have risen due to higher interest rates. As buyers apply profitability criteria more conservatively than before, the key will likely be how much the valuation gap between sellers and buyers can be narrowed.