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| World Taekwondo President Choue Chung-won, center, with its partner firms at his office in Seoul, Friday. Courtesy of World Taekwondo |
By Jung Min-ho
World Taekwondo (WT), the sport's global governing body, has postponed the payment date for its partner firms struggling to pay their annual partnership fees amid the COVID-19 pandemic.
Representatives from companies including Adidas, Daedo, JC, KPNP, Mooto, Taekwon Family, Taekwonsoft, Tusah and Woori Sports met WT President Choue Chung-won at his office in Seoul, Friday, to thank him for the decision.
"All of us at World Taekwondo are deeply touched that our recognized companies took this opportunity to thank the organization," Choue said in a statement. "They are our partners and flexibility and collaboration are critical to successful partnerships."
The WT-authorized suppliers provide uniforms, mats, scoring systems and other equipment exclusively for WT events.
WT postponed this year's payment until the end of next year and will not charge the 2021 fees as the companies struggle with fallout from the disease, which is still raging in many parts of the world.
The International Olympic Committee's decision to delay the Tokyo Games for one year has been a heavy blow to WT, which is coping with its own budget crisis.
"But we determined to keep our great recognized companies on side by easing their financial burden as much as possible," Choue said.
"But we are working to make sure we have the plans in place, we bounce back with all stakeholders ― including recognized companies ― and deliver world-class taekwondo that we have all been missing in recent months."
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