By Kang Seung-woo
Staff Reporter
The World Taekwondo Federation (WTF) has reached a global partnership agreement with Macquarie Group of Companies, Korea.
At a press conference in Seoul on Monday, WTF president Choue Chung-won announced that the Australia-based company would be one of only two global partners for the taekwondo governing body for five years. The other partner is Samsung Electronics.
``Macquarie's involvement with the WTF will be a huge boost for taekwondo, as it will enable us to promote the sport better in Korea and overseas,'' Choue said.
``This opens a new era for taekwondo globally, and for that we are very grateful to Macquarie.''
Macquarie, a company that specializes in banking and investment services in Korea, reached a ``multi-million dollar'' deal with the WTF, according to a news release given out at the press conference, although the exact value of the agreement was not specified.
In return, Macquarie will have rights to advertise, use event logos and its own logo at all major championships other than the Olympics. The deal also covers non-event rights.
``We've been looking for some time for more ways to demonstrate our commitment to ordinary Koreans, and we believe this initiative will allow us to do that,'' said John Walker, chairman of the Macquarie Group of Companies, Korea.
According to Choue, the agreement will help introduce taekwondo to youngsters who are currently inaccessible to the sport, and send masters and equipment to 188 WTF memberships, including Taekwondo Peace Corps, which teaches martial arts to children in Africa, the Middle East and Latin America.
``Several companies are in talks with the WTF for the partnerships,'' Choue said.