Good news for pros
Posted: Wed Apr 06, 2011 2:19 am
After the buffeting of the past few years, it seems that the economics of the pro world are picking up.
In Japan an apaprently trivial event will make a huge difference. At the end of March 2011, the Nihon Ki-in at last won approval to be given non-profit organisation status (more correctly, one acting for the public weal). This means it can avoid a crushing tax bill. Whether having a prime minister who is a go fan helped or not you can decide for yourself, but permission does have to come from the Cabinet Office.
In China we are about to see the launch of the Huang Longshi Jiayuan Cup, which involves Taiwan also at the sponsoring end.
Now, in Korea, it has been revealed that the revamped Cheongkwanjang Cup will have a huge fund of 2 billion won (about $1.8 million), with a first prize of 400 million won ($360,000). This makes it the biggest event in Korea, putting even the LG Cup in the shade (250 million won).
The new Cheongkwanjang Cup will still be behind the Kisei, Meijin and (only just) the Honinbo in Japan in first prize terms, but the real significance of the Chengkwanjang venture is that it is based on economic success. The ginseng company believes its past nine years of involvement in the women's team event has led to a substantial increase in sales, especially in China. It now simply wants to expand. That is the sort of message other CEOs will pick up on, rather than what the chairman likes to do in his spare time.
The precise form of the new event has not been decided, apparently because the negotiator on the Hanguk Kiwon side (Ha Hun-heui) is still recovering from thyroid surgery, but Han says the decision has been made in principle and only the details need working out. The sponsor's wish is for a 32-player knockout split over four stages, two in Korea and two in China.
Now may be a good time for Mrs Worthington to let her sons go on the go stage. Whether the daughters who made the Cheongkwanjang what it is will lose out is, however, not clear at the moment. Perhaps they will be seeded in.
In Japan an apaprently trivial event will make a huge difference. At the end of March 2011, the Nihon Ki-in at last won approval to be given non-profit organisation status (more correctly, one acting for the public weal). This means it can avoid a crushing tax bill. Whether having a prime minister who is a go fan helped or not you can decide for yourself, but permission does have to come from the Cabinet Office.
In China we are about to see the launch of the Huang Longshi Jiayuan Cup, which involves Taiwan also at the sponsoring end.
Now, in Korea, it has been revealed that the revamped Cheongkwanjang Cup will have a huge fund of 2 billion won (about $1.8 million), with a first prize of 400 million won ($360,000). This makes it the biggest event in Korea, putting even the LG Cup in the shade (250 million won).
The new Cheongkwanjang Cup will still be behind the Kisei, Meijin and (only just) the Honinbo in Japan in first prize terms, but the real significance of the Chengkwanjang venture is that it is based on economic success. The ginseng company believes its past nine years of involvement in the women's team event has led to a substantial increase in sales, especially in China. It now simply wants to expand. That is the sort of message other CEOs will pick up on, rather than what the chairman likes to do in his spare time.
The precise form of the new event has not been decided, apparently because the negotiator on the Hanguk Kiwon side (Ha Hun-heui) is still recovering from thyroid surgery, but Han says the decision has been made in principle and only the details need working out. The sponsor's wish is for a 32-player knockout split over four stages, two in Korea and two in China.
Now may be a good time for Mrs Worthington to let her sons go on the go stage. Whether the daughters who made the Cheongkwanjang what it is will lose out is, however, not clear at the moment. Perhaps they will be seeded in.
