The K.J. Choi Invitational will be held at the Sky72 Golf Club in Incheon from Oct. 20-23 and offer prizemoney of $750,000, organisers said on Monday.
The tournament would also serve as a vehicle for Choi's charity, the K.J. Choi Foundation, in partnership with the Korean and Asian Tours.
"This is a very exciting day for me ... The K.J. Choi Foundation is very important to me and this tournament will be a very special way to raise funds and the profile of many of the causes we support," said the golfer, who celebrated his 41st birthday last week, in a statement released by the Asian Tour.
Choi, who pledged $200,000 of his Players Championship earnings to help tornado relief in the southeastern United States, is Asia's leading player on the US PGA Tour with eight career victories.
He has enjoyed scorching form this year with a joint eighth at the US Masters among five top-10 finishes and lies third in the money list with nearly $3 million in earnings.