Korean company purchases Austin-area golf courses for $85M

Deal marks its first U.S. golf course acquisitions

Originally published by Austin Business Journal on Nov 21, 2025

By Justin Sayers – Senior Staff Writer, Austin Business Journal

[The following is a transcription of the full article as written by Justin Sayers.]

A Korean entity has acquired three Austin-area golf courses, according to deed records, published news reports and officials. If signifies the continued interst of Korean entities in doing business in the area.

Two courses, Avery Ranch Golf Club in WIlliamson County and Teravista Golf Club in Round Rock, on Oct. 24 were acquired by separate entities that tie to the same address in Lewisville, which is near Dallas, according to Williamson County property records. The courses were owned by Round Rock-based Magnolia Hospitality Management Co. LLC.

While the identity of the company behind the purchase was not disclosed, KoreaTexas Forum CEO EC Chi, who has direct knowledge of the matter, confirmed news reports out of Korea that Hanlim Construction, which is known for operating Hanlim Yongin Country Club and two others, is the company behind the purchases.

Chi also confirmed reports that Hanlim has also bought Falconhead Golf Club in western Travis County, though that sale does not appear yet in Travis County property records. That course appears to be owned by the Spillman family in Plainview, which is near Lubbock.

The total acquisition was $85 million, Chi said, adding that the purchases marked the company's first golf course acquisitions in the United States. The company was represented by Samil Accounting Corp., also known as Samil PricewaterhouseCoopers, the South Korean member firm of the global accounting and consulting firm PwC.

Korean news outlets noted that the combined annual revenue of the three courses is estimated at about 30 billion won, or $20.4 million.

Chi said Hanlim launched in 1980 and initially focused on building apartment buildings. But it's well known for going where Korean companies go, especially in the United States. It has transitioned to owning golf courses as a way to support the business ecosystem.

"Golf course business is a major income-drawing business for Koreans, especially if you place it among Korean companies," Chi said. "But, also they want to diversity and expand their client base. We have Oracle, Apple, Dell, and Tesla here in Central Texas. It was more of a global strategic footprint idea."

A representative of Magnolia Hospitality Management did not immediately respond to a request for comment. A representative of Falconhead didn't respond to requests for comment.

Korean companies, largely buoyed by the Samsung Electronics Co. Ltd. plant in Taylor, have been taking interest in the region. That has included various companies in the Samsung supply chain, as well as a bank, industrial developer and car parts maker. Those companies have located everywhere from Bastrop to Taylor to Georgetown.