(FT. LEE, NJ) November 3, 2004 - More than 30 professional golfers from around the world are committed to play in the Shinhan Korea Golf Championship, the first PGA TOUR sanctioned challenge season event in Asia, at Jeju-Jungmun Golf Club, Korea, on Nov. 22-28.

Shinhan Financial Group has recently signed on as the title sponsor of the four-round 72-hole stroke play event. The Korea National Tourism Organization and BH Team, Inc. will serve as co-hosts of the 36-man field from nine countries worldwide, including the United States, Great Britain, Spain, Germany, etc.

Included in the field are six-time major championship winner Nick Faldo, 2002 and 2003 PGA Champions Rich Beem and Shaun Micheel as well as 2004 Ryder Cup team member Padraig Harrington and Korean golfer Choi Kyung-joo.

Hailing from England, Nick Faldo brings a wealth of talent and history with him. Faldo won his first major championship in 1987 at the British Open. He won the tournament two more times in 1990 and 1992. Faldo also won the Masters Tournament three times in 1989, 1990 and 1996. He has been an international figure in the game of golf and has totaled 30 European Tour victories in addition to four PGA TOUR titles. Faldo still holds the record as the leading points scorer for Europe in Ryder Cup history.

Rich Beem enjoyed a career year on TOUR in 2002, finishing seventh place on the PGA TOUR Money List with season earnings of nearly $3 million and consecutive victories, including a major championship title at the PGA Championship. In addition to winning the PGA Championship, Beem has also won the 1999 Kemper Open and the 2002 INTERNATIONAL Presented by Qwest in his 10-year PGA TOUR career.

Like Beem, Shaun Micheel broke through at the PGA Championship at Oak Hill Country Club in Rochester, NY. Micheel became the first player since John Daly (1991) to capture his first PGA TOUR event at the PGA Championship.

“We are excited that players from many different Tours and backgrounds will come together to play at the Korea Golf Championship,” said Jeff Monday, Senior Vice President of TOUR Development. “With players like Nick Faldo, Padraig Harrington Shaun Micheel, and K.J. Choi, fans will be able to see some of the best players the game has to offer at a fantastic venue. The tournament committee is working very hard to produce a successful event and the golf course is doing an excellent job getting the course ready for the competition.”

Major champion Mark Calcavecchia will also be among the 36-player field. The 1989 British Open Champion at Royal Troon, Calcavecchia has totaled 11 career PGA TOUR victories and was a member of four United States Ryder Cup teams. In 2001, Calcavecchia set or tied seven then-PGA TOUR scoring records en route to winning the Phoenix Open at 28-under-par 256.

Padraig Harrington has proven himself to be one of the world’s best players with his play on both the European Tour and the PGA TOUR. One of golf's top performers of recent years and virtually a permanent fixture in the top 10 of the Official World Golf Ranking, Harrington has nine wins on the European Tour including wins at the Linde German Masters and the Omega Hong Kong Open this season.

Shinhan Financial Group has made significant contributions to sports in Korea. SFC will support the tournaments efforts to enhance the culture of the Korean golf with this PGA TOUR title-sponsorship.

Mr. Sang Park KNTO event team director said, “We expect a direct and indirect economic effect of 509 million USD including the revenue amounts for 6.3 billion won in foreign tourist accounts. The also expect the effects of 44.9 billion won in publicity through domestic and overseas mass-media like Korea Broadcasting System(KBS) and NBC, USA Networks for hosting the biggest sporting event since the World Golf Championships-World Cup in 2002.”

Point of contact: Mr. Jong-hun Kim Manager KNTO Event Team at
Tel: 011-82-02-7299-215 / 756-2004 (from the US) or E-mail: colpamia@mail.knto.or.kr