The LIV injection would have pushed the total prize fund from around US$1 million (HK$7.8 million) to a record US$1.5 million for the historic tournament first played in 1958.

However, on Wednesday, it released a statement saying: “The Asian Tour can confirm the prize money for the Kolon Korea Open has been revised to the original amount of 1.4 billion Korean won (US$1 million), the same as last year.

“We communicated this revision to our members following an update from the title sponsor Kolon.

“The champion will receive a bonus of 200 million won, as previously announced.”

In April, the Asian Tour announced the Korea Open prize fund boost to great fanfare.

“With US$500,000 in prize money support from LIV Golf, with whom we have been expanding our partnership, the winner’s share will be 700 million won and the total purse 2 billion won, making this the largest tournament in its history,” tournament organisers trumpeted on April 24.