Investing in Japan
Investment News
Nov. 5, 2009
Korea-based Golf Simulator Maker GOLFZON Sets Up a Joint Venture in Japan
GOLFZON Co., Ltd.
, a provider of golf simulators in South Korea, established its Japan arm, GOLFZON Japan Co., Ltd. in Tokyo in May 2009, and commenced full-scale business operations.
GOLFZON's simulators allow players to enjoy virtual rounds on over 100 famous courses in South Korea, China, Japan, the US, France, the UK and elsewhere around the world. In South Korea, the company has sold over 10,000 systems, and their simulators are installed at some 3,000 indoor golf facilities, including their directly-owned ones, which typically employ five or more staff. Because of this, the company is regarded as a large contributor to employment creation in the country and so receives Korean government subsidies as well as acclaim as a promising business.
GOLFZON had sold around 200 systems in Japan so far, and with the prospect of a growing market, the company established a joint venture with its Japan distributor, Random Co., Ltd., consolidating its business development activities under the new firm.
As a step towards increasing sales and establishing directly managed facilities throughout Japan, the firm plans to open its first branch in Osaka before year-end.
Golfzon is also preparing to bring to Japan its online golf simulator services—the world's first, launched in 2006 in South Korea. The firm aims to develop services that suit the needs of Japanese customers through a network of indoor facilities and mobile simulators as well as online services.
To set-up its Japan arm, GOLFZON made use of JETRO's Invest Japan Business Support Center (IBSC) in Tokyo, utilizing free temporary office space, assistance in joint venture company registration and visa preparations and introduction to an administrative scrivener.
IBSCs are located in Japan's major business hubs (Tokyo, Yokohama, Nagoya, Osaka, Kobe and Fukuoka) and provide one-stop support and service to foreign firms seeking to set up or expand business in Japan. The centers, which provide free temporary office space, consultation with expert advisors and access to a wealth of business information, tailor support according to the specific needs and phase of development of each firm.
