Los Angeles, USA: The LPGA is teaming with automaker BMW to produce a women's golf tournament at LPGA International Busan in South Korea starting next year.
LPGA commissioner Mike Whan and BMW Group Korea's Chairman Kim Hyo-joon announced the tournament on Wednesday in Florida.
It will boast a purse of $2 million with a winner's prize of $300,000.
The tournament, planned for October of next year, is just one project planned for its facility in Busan, where an LPGA teaching and club professional center and a regional LPGA qualifying school are also planned.
"We are so excited to partner with BMW, and to bring the LPGA to the wonderful city of Busan, Korea," Whan said.
BMW already sponsors the European Tour's BMW PGA Championship and BMW International Open, along with the PGA Tour's BMW Championship.
"BMW is a global brand and already sponsors many global events on the PGA TOUR and the European Tour," Kim said. "For the next three years, they will apply their know-how of the golf industry to the women's golf tournament in Korea and look forward to making many contributions to the growth of the Tour."