A promotional poster for the 2023 KB Financial Group Star Championship held at the Blackstone Golf Club in Icheon, Gyeonggi Province, from Sept.7-10. (KB Financial Group)

KB Financial Group is set to host its women's golf championship from Thursday through Sunday at the Blackstone Golf Club in Icheon, Gyeonggi Province, it said Tuesday.

Called KB Financial Group Star Championship, the annual competition is a major tournament for the 2023 Korea Ladies Professional Golf Association Tour.

With 1.2 billion won ($905,000) in prize money, including 216 million won for the winner, the tournament will see a number of South Korean star golfers contending for the title, such as defending champion Park Min-ji and other top-ranked players including Lee Ye-won and Chun In-gee.

This year's competition will have some course adjustments to encourage more aggressive and bolder shots from players. For example, the 11th hole (par 4) has been extended while the 18th hole (par 5), the critical hole, has its course length reduced.

The banking group offers some benefits for contestants. For a hole-in-one scored on the 13th hole, players will win a chance to establish their own domestic stock portfolio for direct investment.

As for the caddies participating in the tournament, the financial giant will sponsor 500,000 won to those who wear a cap printed with the company logo.

The banking group is also committed to promoting sustainability with the tournament.

For example, the green on the 17th hole will be called the K-Bee Zone. For every tee shot that hits the green, KB will donate one jar of honey and 20 kilograms of rice to low-income families in Icheon.

It will also raise scholarship funds for financially disadvantaged youths for every shot scored on the fifth hole.

"We have organized various facilities and events to allow golf fans to fully enjoy the thrilling performances of the nation's top players,” a KB Financial Group official said in a statement.

“Our golf championship aims to contribute to the local community, while also sparing no efforts to nurture the national golf industry.”