This is a poster for the 32nd Shinhan Donghae Open, a golf event being used by Shinhan Financial Group as part of its sports marketing offensives around the world.(Photo: SFG)

Shinhan Financial Group has been turning to marketing offensives involving sports games to secure the customers, especially in its overseas operations. The initiatives include local wholly owned subsidiaries and branches of affiliates.

According to the group on Sept. 26, the Shinhan Donghae Open scheduled to open Sept. 29 has become among the world’s three biggest tours in golf, having been included in the Asian Tour. 

In March, the Shinhan Open was co-sponsored with the Korea Professional Golf Association under a contract. 

The Shinhan Donghae Open begins Sept. 29 at the Bears Best Chongla Golf Club and lasts for four days. The Shinhan Open’s admission to the Asian Tour is related to Shinhan Financial Group’s strategy to overcome low-interest rates on loans and the sluggish local economy, coupled with slow growth in the working population. 

The goal is to earn more profits overseas, leaving negative factors for financial business at home. 

The overseas strategy has been focused on the Asia-Pacific region, with countries in the region having great potential for growth in the months ahead. 

The group thinks the Shinhan Open will be watched by fans of Asian Tour Golf events numbering some 740 million households in the region, thus it will greatly help the Shinhan Group’s advancement into those countries.

Chairman Han Dong-woo said Shinhan Donghae Open, which has been a stepping stone for young Korean golfers to advance overseas in the past three decades of its operation, will this time boost the chances for young Korean golfers to advance into the Asian golf events by displaying their golfing skills in an international spotlight.

This year the prize money has been increased by 200 million won to 1.2 billion won. It has become an international golfing event, with its prestige enhanced by joining the Asian Tour and is now a top golf championship event. The winner of the Shinhan Donghae Open will now earn 14 points, more than twice those given to the winners of KPGA Korean Tour and One Asia Tour. 

The top three winners of the Shinhan Donghae Open will be given the rights to compete in the Venetian Open of the Asian Tour, scheduled for Macao from Oct. 13.