Signed an exclusive supply and sales contract with Chunbok Company Limited in Thailand for supplying at least 100 golf simulators over the next three years

Leveraging the contract, GOLFZON will build a foothold in Thailand and accelerate expansion of golf simulator market in Southeast Asia

Contract with Chunbok Company

GOLFZON(CEO: Jang Sung Won/ (KOSDAQ: 215000), is expanding into Thai market, dubbed the golfer’s paradise, with its golf simulators.

GOLFZON held on December 16, 2015 a ceremony of signing an exclusive sales agent contract for golf simulators with Chunbok Company Limited in Thailand at Esplanade Shopping Mall located in Rachada, Bangkok, Thailand.

Established in 2008, Chunbok Company Limited is a computer and IT provider dedicated to consulting services to private and government organizations in Thailand in relation to software programs and development, while supplying IT facilities to multiplex cinemas.

The contract signing ceremony was attended by Jang Sung Won, CEO of GOLFZON, Lee Min Seop, General Manager for Global Business Division at GOLFZON, and Sikorn Cheeranavanit, CEO of Chunbok Company Limited.

Under the contract, GOLFZON will supply at least 100 golf simulators over the next three years starting on December 16, 2015, and Chunbok Company Limited will exclusively sell these products in Thailand. GOLFZON has identified success potential of simulation golf, or screen golf, in Thailand by operating Ekkamai Shop, its first store in the country, for years.

At the contract signing ceremony, CEO, Sikorn Cheeranavanit of Chunbok Company Limited said, “Though Thailand provides high accessibility to golf courses at reasonable prices, we could see significant growth potential of golf simulators in this market thanks to outstanding product quality and support of GOLFZON. I believe Thai golfers will be excited about unusual pleasure of golf by experiencing excellent technology of GOLFZON. Particularly, I expect that they will respond to a new culture of enjoying golf while avoiding the hot weather.”

CEO Jang Sung Won of GOLFZON stated, “Screen golf business in Thailand has different meaning from other countries because field golf infrastructure is so well established that it is called the golfer’s paradise and most Korean professional golfers visit the country for off-season training. I expect the combination between technologies of GOLFZON and business capability of Chunbok Company Limited will generate a synergy. Also, it is very meaningful in that GOLFZON can now build a foothold for increasing its presence in Thailand and Southeast Asian markets.”

Advanced technology of GOLFZON’s golf simulators was widely recognized as the company concluded an agreement with the LPGA in January this year for using them as official simulators for 3 years. And their excellence was also demonstrated as world’s top women professional golfers in Korea as well as young hopeful golfers are maintaining sense of games using golf simulators of GOLFZON.

Based on the arrangement, GOLFZON will supply golf simulators and Chunbok Company Limited will sell them in Thailand after further discussing ways of operation and specific plans.

Meanwhile, GOLFZON is scheduled to hold the event of opening its third shop on December 17 at MegaBox Mall in Hong Kong. The third shop is installed by GreenLive, its official agent in Hong Kong. GOLFZON expects that the third shop will contribute to establishing screen golf as an instrument of new golf culture for Hong Kong citizens.