Parallel Media Group has extended its agreement and will continue as promoter of The Championship, a US$1.5 million Korean tournament co-sanctioned by the European Tour, Asian Tour and the Korea Professional Golfers Association.
The next edition will be held from 1st to 4th May next year at Blackstone Golf Club in Icheon, in South Korea’s Gyeonggi Province.
A European Tour statement said an announcement regarding a new title sponsor will be made shortly. The event was previously known as the Ballantine's Championship, but the whisky brand will not renew its deal after six years of backing the event.
J-Golf and Korean Broadcasting System will broadcast the tournament in its home country.
David Ciclitira, the chairman of PMG, said: “We are fully committed to staging a tournament in Korea, and so we had no hesitation in extending our agreement to stage The Championship.
"Over the past six years it has developed into one of the most prestigious tournaments in Asia, and we will continue to grow the event in the future.
Keith Waters, chief operating officer of The European Tour, added: “Korea is an increasingly important marketplace for The European Tour, so after six very successful tournaments we are delighted that PMG have agreed to extend their commitment to promote this event."