WTF Signs Global Partnership Agreement with Macquarie
For the WTF, the global partnership agreement marks the second of its kind after Samsung Electronics in March 2005.
Under the five-year contract, Macquarie will secure the advertising and sponsorship rights for the WTF-promoted events, like the WTF World Taekwondo Championships and the WTF World Junior Taekwondo Chamionships.
The amount of the sponsorship fees was not disclosed in accordance with the non-disclosure clause in the agreement signed between the two parties.
The agreement was signed between WTF President Chungwon Choue and Mr. John Walker, chairman of Macquarie Group of Companies, Korea at the latter’s headquarters in downtown Seoul.
“The agreement is Macquarie Group’s long-term commitment to Korean society and I believe that Macquarie will faithfully carry out its responsibility as the global partner of the WTF over the next five years,” said WTF President Choue during the signing ceremony.
Dr. Choue said, “The global partnership would greatly help consolidate the WTF’s status as an international sport and help taekwondo retain its Olympic status.”
“Mr. Walker has provided financial supports to several Australian national taekwondo athletes from the Australian state of Victoria for their training in Korea over the last several years,” he said. “Mr. Walker’s special love for taekwondo has made this global partnership agreement possible.”
Mr. Walker said at the signing ceremony that “We are delighted at our new partnership with the WTF. We are sure it will be a long and fruitful one.” “This is one of Macquarie’s biggest ever sponsorships. We are sure it will be one of our most successful.”
Macquarie, whose headquarters are located in Australia, has business networks in 28 countries in the world. Macquarie Group of Companies, Koream which started its investment banking business in 2000, is the fastest growing business entity in Asia.
“For some time, Macquarie has been looking for more cohesive ways to deepen our ties with the Korean community. “We’ve been doing business in Korea for eight years now. Korea has been very good to us. In fact, the Korea office is one of Macquarie’s fastest growing businesses. We now have nearly 400 employees here.”
Mr. Walker said, “We feel strongly that Macquarie should repay Korea’s generosity with genuine efforts to make a significant contribution to this country.” “Several months ago, we agreed that our organizations had a lot in common, and wanted to contribute to Korean society in similar ways.”
“This sponsorship is the vehicle which will allow us to achieve this. We feel it is a tremendously positive initiative,” Mr. Walker said. “It is exciting for taekwond and also for us.”
He said, “Firstly, it enables Macquarie to play a role in the further growth of the great sport of taekwondo, which I personally have enjoyed as a spectator for several years.” “Secondly, it provides us with a way to do more work for the benefit of disadvantaged people in Korea, particularly youth, through the ‘Enhancing Young Lives’ program.”
Mr. Walker said, the “Enhancing Young Lives” program is in the development stage at the moment. “When fully developed, it will focus on spreading taekwondo, and greater awareness of the health benefits of physical exercise, through needy areas.” “This could involve, for example, gestures like donating sporting equipment to community groups, or sending taekwondo masters to train kids in areas where such training is not accessible.”
He said, “We hope that, eventually, the ‘Enhancing Young Lives’ program will be expanded to include broader social welfare actitivies.”