POSCO Group has formally begun the sale process for Jack Nicklaus Golf Club, its prestigious membership course in Incheon’s Songdo International City. Industry observers are closely monitoring the transaction, which could establish a new benchmark for golf course valuations in Korea.

According to industry sources, the group recently initiated the formal sale, appointing Deloitte Anjin as the lead advisor. Investment memorandums have already been distributed to major prospective buyers.

Jack Nicklaus Golf Club is an 18-hole membership facility owned by POSCO Wide, the group’s real estate management affiliate. Designed by golf legend Jack Nicklaus, the course features high-end clubhouse amenities and is widely regarded as one of Korea’s premier golf destinations. It gained international prominence in 2015 as the host venue for the Presidents Cup, the first time the global team event was staged in Asia.

The decision to divest forms part of POSCO Group’s broader strategy under Chairman Jang In-hwa, who assumed leadership in 2024. The group has prioritized core operations and balance-sheet strengthening, identifying non-core assets—including the Songdo golf course—for disposal.

POSCO Holdings’ semiannual report and second-quarter results show the group completed 85 restructuring initiatives from 2024 through the first half of this year, generating a cumulative 2.2 trillion won in cash. In the first half alone, approximately 480 billion won was raised through the sale and liquidation of 12 assets and related transactions.

Market attention is focused on whether the forthcoming deal will surpass the previous per-hole pricing record. POSCO Group itself acquired the course in 2022 by exercising its right of first refusal for more than 300 billion won. That transaction set a Korean record, with the 18-hole property valued at over 16 billion won per hole.

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