ORLANDO, Fla., Jan. 22, 2015 /PRNewswire/ -- GOLFZON Co., Ltd. (KOSDAQ: 121440), which owns the largest share of the global golf simulator market, and GolfTEC, the world leader in golf improvement, have entered into a Memorandum of Understanding (MoU). The agreement, announced today at the PGA Merchandise Show, will lead to developing a strategic partnership between the two industry leaders.
Under terms of the MoU, GOLFZON and GolfTEC aspire to build a strong collaborative working relationship, while supporting each other in business development and furthering each other's strategic objectives. The purpose of this MoU is to promote global business via technological cooperation between the two companies, and with this MoU, the GOLFZON simulator will be introduced in GolfTEC centers.
The MoU between GOLFZON and GolfTEC is expected to create advanced solutions for GolfTEC's comprehensive golf lesson system and raise awareness of the GOLFZON brand and its products. In addition, implementing GOLFZON's indoor golf simulator in GolfTEC centers will be contributing to diversification of GolfTEC's revenue streams and expanding GOLFZON's business in the North American market by combining its indoor simulator system with GolfTEC's unique lesson service.
GOLFZON's Chairman and CEO Young-chan Kim shared his optimism and noted, "GOLFZON has been highly successful bringing together golf and technology; we now look to GolfTEC with their successful learning systems in the U.S. and internationally to further expand our presence globally."
GolfTEC CEO and Co-Founder Joe Assell said, "We recognize the potential and collaborative synergy in a strategic partnership with GOLFZON and wish to further pursue ongoing discussions to better define potential Joint Ventures and investment opportunities."
The GOLFZON simulator allows everyone to easily enjoy indoor golf. The simulator provides realistic rounds of golf from tee shot to hole-out thanks to advanced 3D graphics technology that reproduces actual golf courses.
In addition, GOLFZON has been actively expanding its business foothold in the U.S., participating in the 2015 PGA Merchandise Show. During the Show, GOLFZON is providing consultation services for anyone who wishes to build a partnership with the company.
Since its establishment in 2000, GOLFZON has strived to make golf enjoyable and accessible for everyone, believing that golf should no longer be perceived as exclusive for the upper class only. With a simulation-based business model consisting of golf, IT and culture, GOLFZON has the largest market share in the global golf simulator business. In addition, GOLFZON has been internationally recognized for the high quality of their products and currently has more than 5,300 affiliated locations in Korea. Around the globe, people enjoy golf with GOLFZON's system in more than 40 countries. Beginning in 2015, they are the Official Golf Simulator of the LPGA. For more information about GOLFZON, please visit the company's website at http://golfsimulator.golfzon.com/http://company.golfzon.com/en
The world leader in golf lessons, GolfTEC has a 95 percent success rate among its students. The more than 600 GolfTEC Certified Personal Coaches at nearly 200 centers worldwide, including 80+ within Golfsmith stores, have given nearly 5 million lessons since 1995. All lessons are based on the company's "Five Factors": Fact-Based Diagnosis, Sequential Lessons, Video-Based Practice, Advanced Retention Tools, and Precision-fit Clubs. GolfTEC Improvement Centers can be found in almost all major U.S. cities, Canada, Japan and Korea. For more information about GolfTEC, please visit http://www.golftec.com
United Entertainment Group
E: [email protected]
CEO and President
Bridging Culture Worldwide
C: +1-720-837-1049 Golden HQ
E: [email protected]