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Asian Tour cancels Korea Open prize money hike after LIV funding changes

Posted : 20 May 2026

The Asian Tour has withdrawn a previously announced increase in prize money for this week’s Korea Open, reversing an earlier decision tied to financial support linked to LIV Golf. The move comes only weeks after organisers had celebrated a significant boost to the tournament’s purse.

Initially, the tour had revealed that the historic championship, first staged in 1958, would see its total prize fund rise from around $1 million to $1.5 million. This increase was made possible by a reported $500,000 contribution associated with LIV Golf partnerships, raising expectations of a record-breaking edition.

However, officials confirmed on Wednesday that the prize structure has now been returned to its previous level of KRW 1.4 billion, matching last year’s edition. The update followed communication from title sponsor Kolon, prompting a revision of the earlier announcement.

Despite the rollback, organisers said the champion will still receive a previously agreed bonus of KRW 200 million. The earlier promotion of a larger purse had been widely publicised in April, when the event was presented as the richest in its history.

The reversal comes amid broader uncertainty surrounding LIV Golf’s financial backing after Saudi Arabia’s Public Investment Fund signalled it would stop funding the breakaway circuit beyond 2026, after investing billions since its creation in 2021. That shift has raised questions about the sustainability of several LIV-linked projects.

Several LIV golfers, including Bubba Watson, Abraham Ancer, and Danny Lee, are still expected to compete in the Korea Open in Chuncheon, which begins Thursday. LIV has also supported the Asian Tour’s International Series, leaving future funding and prize levels for those events uncertain as the circuit searches for new sponsors.

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