Shinhan Korea, JDX golf-wear operator, entered rehabilitation in 2025 after the boom burst

What happened

Why it happened

• The company built growth on a pandemic golf boom that proved a bubble — as golf popularity waned from 2023, profitability deteriorated and expanded mid-sized brands began to go under.
• High inflation and weak consumer spending cut demand for premium golf wear just as the market became oversupplied.
• Unlike rivals, Shinhan Korea submitted a workable plan and repaid its tax claims early, so the court approved the plan and let it exit rehabilitation ahead of schedule.

Aftermath

Shinhan Korea (㈜신한코리아), operator of the golf-wear brand JDX, applied to the Seoul Rehabilitation Court for corporate rehabilitation on 7 March 2025 as the golf boom faded and profitability worsened from 2023. The court opened the procedure on 1 April 2025, approved the recovery plan on 23 September 2025, and by 1 December 2025 approved early termination of the procedure, ending court management ahead of schedule. Under CEO Kim Han-cheol, the company returned to normal management, settling tax claims early and planning new products and a wider distribution network.