Korean Open prize money hits US$1.2m
Source: Agencies |
00:00 UTC+8 May 23, 2010
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Print Edition
Print Edition
NEXT year's Korean Open will become the first in the sport of badminton to offer over US$1 million in prize money.
The event is one of five named in a media release late on Friday by the Badminton World Federation as one of its new Premier Super Series tournaments, effectively its first "grand slam."
The others, agreed at a BWF council meeting in Kuala Lumpur, Malaysia, are Indonesia, China, the All England, and Denmark.
The Korean Open will have a purse of US$1.2 million, four times as much as this year.
Prize money in Indonesia has been raised to US$600,000 while the other three Premier events are offering a minimum of US$350,000 each.
There will be seven other second-tier Super Series events with a minimum purse of US$200,000 - in France, Hong Kong SAR, India, Japan, Malaysia, Singapore and Chinese mainland.
Total prize money for the year, including the Premier tournaments, will rise from US$3.3 million to US$4.7 million.
BWF President Dr Kang Young-joong said: "There is more money in the sport, we have our first-ever million dollar prize money tournament and above all the BWF received a strong interest from our member countries.
"These are positives for the sport and I firmly believe we are heading in the right direction in terms of developing and promoting the sport. The future is bright."
There were 17 applications to host a Super Series event and eight to stage one of the Premier tournaments.
The Super Series format was introduced in 2007 but after a review at the end of 2009 the decision was taken to introduce a two-tier system from 2011.
The event is one of five named in a media release late on Friday by the Badminton World Federation as one of its new Premier Super Series tournaments, effectively its first "grand slam."
The others, agreed at a BWF council meeting in Kuala Lumpur, Malaysia, are Indonesia, China, the All England, and Denmark.
The Korean Open will have a purse of US$1.2 million, four times as much as this year.
Prize money in Indonesia has been raised to US$600,000 while the other three Premier events are offering a minimum of US$350,000 each.
There will be seven other second-tier Super Series events with a minimum purse of US$200,000 - in France, Hong Kong SAR, India, Japan, Malaysia, Singapore and Chinese mainland.
Total prize money for the year, including the Premier tournaments, will rise from US$3.3 million to US$4.7 million.
BWF President Dr Kang Young-joong said: "There is more money in the sport, we have our first-ever million dollar prize money tournament and above all the BWF received a strong interest from our member countries.
"These are positives for the sport and I firmly believe we are heading in the right direction in terms of developing and promoting the sport. The future is bright."
There were 17 applications to host a Super Series event and eight to stage one of the Premier tournaments.
The Super Series format was introduced in 2007 but after a review at the end of 2009 the decision was taken to introduce a two-tier system from 2011.
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