South Korean Se Ri Pak "is the hottest woman golfer in
two decades, a national hero back home, a darling of the
country-club set everywhere," according to Tony Emerson in
NEWSWEEK's Int'l Edition. Pak's financial adviser, Yeong
Shin: "Every major corporate name in golf is chasing her --
Nike, Callaway -- everyone." But Emerson writes that to
"head off these rivals," Pak's corporate sponsor, Samsung,
agreed last week to give her a new deal "worth about" $15M
over three years (NEWSWEEK INT'L EDITION, 8/17 issue).
BUT DOES SAMSUNG HAVE TOO MUCH CONTROL? BUSINESS WEEK's
Mark Hyman writes that for any other pro golfer, Pak's
performance this year "would mean an avalanche of big-money
endorsement contracts. But Pak has problems: She's a woman
golfer, her English is a work in progress, and she seems
tethered to Korean conglomerate Samsung Group." IMG
"appears to be on the way" to becoming Pak's new business
manager, which would be her third this year. Hyman writes,
"Whomever Pak chooses can expect to be on the phone daily"
with Samsung. Samsung America Dir of Corporate Strategy
Raymond Yoon: "The position of manager of the professional
golfer is quite important, not only for the player but also
for the sponsoring company." While published reports have
Pak's renegotiated Samsung deal worth more than $9M over
three years, Yoon said that her basic contract -- estimated
to be as high as $1M a year for 10 years -- "cannot be
changed." Pak will be a spokesperson for Samsung's new golf
clothing line, Astra -- expected in U.S. stores next spring
-- and Yoon added that Samsung is discussing ways to
compensate Pak for her play (BUSINESS WEEK, 8/17 issue).
