Smart Golf X Innocle Trust MOU, large-scale investment for entering global market and domestic business

News provided by smartgolf
November 20, 2020 16:13 Korea Standard Time
  • Innocle Trust CEO Seok-hwan Jang (left front), Smart Golf CEO Ji-hyung Park (right front), and other...

    Innocle Trust CEO Seok-hwan Jang (left front), Smart Golf CEO Ji-hyung Park (right front), and other Innocle Trust and Smart Golf officials are taking commemorative photos

SEOUL--(Korea Newswire) November 20, 2020 -- Smart Golf announced on the 19th that it has signed a business agreement with Innocle Trust to enter the global market and expand its domestic business.

Smart Golf is a screen golf specialized company with technology related to screen golf software and sensors. Under this agreement, the two companies will use their capabilities and resources to the fullest, aiming for shared growth, and promote listing on the domestic KOSDAQ and overseas NASDAQ through the signing of an MOU.

Innocle Trust is a global asset management company that has planned and succeeded in funding for domestic and foreign companies. After six months of tug-of-war negotiations for investment in Smart Golf with Park Ji-hyung, CEO of Smart Golf, they signed an MOU on November 17.

Currently, Innocle Trust is on the verge of acquiring the world's leading asset management company, and plans to continue investing and funding Smart Golf through the acquired company, and plans to participate in the capital increase of Smart Golf and invest in future Smart Golf new business projects. In particular, it was decided to promote the listing of the NASDAQ SPEC funding.

Innocle said that although it is planning to fund Smart Golf, it is important that it is also planning to invest, and that most of the project cost is expected to be net sales of Smart Golf. Through these results, it is predicted that it will be possible to list on the KOSDAQ next year. Innocle's big picture is to develop Smart Golf as a global brand, and they are confident that it will establish itself in the near future through business innovation and diversification through various role models.

In addition to this, Innocle is specially promoting the NASDAQ listing through the US SPEC funding. In order to create a unicorn company the nation is pursuing, they plan to create invest and funding in cooperation with the Ministry of SMEs and Startups, many starters under its subsidiary, and many other ventures in Korea. In addition, for overseas expansion, investors in the US are conducting projects.

They explained that they decided to contribute to the development of Smart Golf as a global company by creating investment and funding in cooperation with the Ministry of SMEs and Startups and its affiliated companies for making a unicorn company that is currently aimed in Korea, also allowing investors in the United States to participate in the projects for overseas market entry.

Smart Golf is running the ‘Smart Golf Park Zone’ Fund, a large-scale multi-theme park currently underway, and has also secured funding for entering shopping malls and opening a lounge pop-up store. Smart Golf signed an agreement to supply technology and equipment related to the business and conduct consignment management.

Park Ji-hyung, CEO of Smart Golf said, “Smart Golf Park Zone is a newly launched business model to change the entire domestic golf market by providing innovative services based on the big data-based golf swing correction and golf lesson curriculum possessed by Smart Golf to actively accommodate the diverse needs of the rapidly increasing Korean golf population and golfers.”

Large shopping malls and movie theaters that have been suspended and reduced due to the COVID-19 will be turned into multi-golf centers, and Smart Golf will start consignment management, and small and medium-sized shopping centers and shopping malls will be made into The Smart Golf Studio or Smart Golf Academy. It plans to open 200 consignment stores nationwide within two years.

Smart Golf is planning to become a health care company as well as screen golf by operating academy, studio, golf game field (room), baseball, kids cafe, and fitness, and advance into the food franchise business in cooperation with an F&B company called ‘Bright Union’.

In addition, Japan plans to set up smart golf theme parks in 10 cities and operate 500 direct smart golf studios and academies across the country in cooperation with Japan's large distribution group, and advance into the Philippines will be decided on this scale.

Based on the know-how of planning and operating more than 10 franchise businesses so far, Smart Golf will transform the entire stagnant domestic market by making all shopping malls reduced and closed due to the COVID-19 into ‘Smart Golf Park Zone’, expecting to go beyond Korea to the world by joining hands with Innocle Trust.

Since its founding in 2002, Smart Golf, a technology-oriented company, has devoted itself to one field of screen golf and occupies the top spot in the at-bat screen golf field, possessing all the original technologies of screen golf software and sensor-related hardware, evolving only through technology


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Doyeon Jeon

This is a news release distributed by Korea Newswire on behalf of this company.