South Korea has been selected to host the Presidents Cup golf tournament in 2015.

At the opening ceremony of this year's Presidents Cup in Melbourne on Wednesday, PGA Tour commissioner Tim Finchem announced South Korea as the eleventh host of the event as this year’s tournament marks the ninth time it is being held.

The Presidents Cup involves match play of U.S. players against a team of international golfers from non-European countries over the course of four days. The cup is gaining prestige as an intercontinental golf tournament along with the Ryder Cup.

Established in 1994, the host for the biennial event alternates between U.S. venues and non-U.S. venues.

Until now, aside from the U.S., only Australia, South Africa and Canada have hosted the event.