South Korean Golfer Kim Hyo-joo Signs Sponsorship Extension With Lotte Group

South Korean teenage golfer Kim Hyo-joo "signed a lucrative extension with her main corporate sponsor, Lotte Group, the conglomerate announced Tuesday," according to YONHAP. Lotte Group said that "it has re-signed the 19-year-old for five more years" in a deal worth 1.3B won ($1.2M), along with performance-based incentives. With each victory, Kim "will receive extra prize money" worth 70% of the purse from Lotte. For a top-five finish, Lotte "will give her a bonus" worth 30% of the winnings. Another 1B won "will kick in if Kim clinches the LPGA Tour's money title, or if she reaches No. 1 in the world rankings, or if she completes the grand slam of major titles." Kim "first signed with Lotte Group" in '12 for 550M won (YONHAP, 12/2).