From left: Hyundai Motor Executive Vice Chairman Chung Eui-sun poses with PGA Tour Commissioner Jay Monahan, tournament host Tiger Woods, and Executive Vice President and global head of the Genesis brand Manfred Fitzgerald at the Genesis Open Championship held at the Riviera Country Club in California on Wednesday. Genesis, Hyundai Motor's luxury brand, is the title sponsor of the tournament. (Yonhap)

The status of the Genesis Open will be elevated to an invitational tournament starting next year, with reduced players, an increase in prize money and a three-year PGA tour exemption for the tournament champion.