SEOUL, S.KOREA - South Korea will next year host a new event on the Asian Tour, organisers announced Thursday, as the sport looks to capitalise on its growing popularity across the region.

The inaugural Tani Asia Open, with a prize fund of 300,000 dollars, will tee off at the Tani Country Club, Sachun City, in April.

Asian Tour executive chairman Kyi Hla Han said the event, which would include 60 players from the Korean PGA, would provide a further catalyst for the growth of the game in Korea and across Asia.

"Over the years, Korea has produced world-class golfers," said Han. "The birth of a new tournament in Korea reflects the growing strength of the game in this country. It will also be a great opportunity for the Korean players to test themselves against the finest players from Asia," he added.

It comes after the announcement last week of the inaugural Queen's Cup, to be held at the Santiburi Samui Country Club on the Thai holiday island of Samui this August.

The Asian Tour has faced a number of problems this year.

It lost its flagship Masters of Asia event when sponsor Volvo pulled out, blaming, among other things, political unrest in host country Thailand.

The Tour also saw the Jaidee Invitational, another Thailand-based tournament, succumb to the global economic crisis when sponsor Raimon Land withdrew.

Several events in the region have also been taken over by the rival OneAsia Tour.

Tani Resort Inc Chairman Kim Sung-Soo said the new tournament will coincide with the launch of the golf club, which is scheduled for completion in March next year.

"The goal will be to establish the Tani Asia Open as one of the biggest Asian Tour events in Korea," said Kim.

South Korea also currently hosts the co-sanctioned Ballantine's Championship and the GS Caltex Maekyung Open.