Golf’s Asian Tour on Wednesday said it had axed a planned increase in prize money for this week’s Korea Open, just weeks after announcing a $500,000 cash boost from LIV Golf.
The LIV injection would have pushed the total prize fund from around $1 million (KRW 1.4billion) to a record $1.5 million for the historic tournament first played in 1958.
However, on Wednesday, a statement to AFP said: “The Asian Tour can confirm the prize money for the Kolon Korea Open has been revised to the original amount of KRW 1.4 billion, the same as last year. “We communicated this revision to our members following an update from the title sponsor Kolon. “The champion will receive a bonus of KRW 200 million as previously announced.” In April, the Asian Tour announced the Korea Open prize fund boost to great fanfare.
“With $500,000 in prize money support from LIV Golf, with whom we have been expanding our partnership, the winner’s share will be 700 million won and the total purse 2 billion won, making this the largest tournament in its history,” tournament organisers trumpeted on April 24.
However, just a week later Saudi Arabia’s Public Investment Fund (PIF) announced it would cease bankrolling LIV after the 2026 season after plunging a reported $5 billion dollars into the breakaway circuit since it was founded in 2021. It has left the rebel tour facing an uncertain future as it scrambles to find new investors and sponsors. A number of LIV players will be in the field for the Korea Open when it begins in Chuncheon on Thursday, including two-time US Masters Champion Bubba Watson, Mexico’s Abraham Ancer and Korean-born New Zealander Danny Lee. LIV has also been bankrolling the Asian Tour’s International Series, leaving in doubt the future of the mini-circuit elevated events which each offer $2 million in prize money and a pathway to the LIV tour. The next International Series tournament is scheduled to take place in Morocco from June 11-14.