By Kang Seung-woo
KB Financial Group is expected to maintain their sponsorship of star figure skater Kim Yu-na.
The nation’s largest financial group announced that it is positively considering renewing a contract with the Olympic champion but the official did not disclose the timing of the deal.
KB became the first local firm to back Kim, as their relations started in 2006.
“Although there was a bit of a troubling issue for Kim of late, it is not a big obstacle to stand in the way of us sponsoring her in the future,” an official of the KB Financial Group told The Korea Times.
The 20-year-old former world champion made headlines in August due to an ugly feud with her former coach Brian Orser of Canada over his dismissal.
After it descended into a public bout, they finally split and Kim is now training in Los Angeles and looking for a new coach.
“Kim is one of the country’s most competitive brands, with world-class name value, and she has contributed to enhancing the group’s image.
“In addition, she boosted the morale of the people by making Korea an up-and-comer in the figure skating circle.”
After parting ways with the coach, however, her invincible reputation in the advertising market was hit hard.
In a recent poll, she dropped to third in terms of preference for TV commercial models.
Now, Kim has many contracts for endorsements including Nike, Hyundai Motor and Samsung Electronics, but it is not certain whether they will renew their contracts.
Some comment that Kim has already established herself as a top-tier skater, so it is not proper for KB to continue supporting her in that a company usually sponsors solely promising athletes that have little financial support.
As a result, KB, headed by Chairman Euh Yoon-dae, plans to support Kim, together with other figure skating prospects.
“The Kim’s side also sees it as a positive thing,” the official said.
Meanwhile, Kim is likely to continue to appear in KB’s commercials. Their contract was up in July.
“When we shoot a new ad, she will be featured,” he said.
Kim made her major debut in 2006 and immediately burst onto the figure skating scene, topping the World Grand Prix Final in the same year.
After winning the elusive World Championship in 2009, she claimed a gold medal in Vancouver in a record-setting fashion earlier this year.
Along with the achievements on ice, she has been the most sought after person in the commercial market signing many endorsement contracts.
Thanks to the popularity, she ranked the fifth highest-paid female athlete behind tennis standouts Maria Sharapova of Russia, Serena and Venus Williams of the United States, and American auto racing driver Danica Patrick.