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“ITF 2017 Korea Open International Festival & Asia Championship” is expected to have significant effect on economy

Date: 2017-06-02

“ITF 2017 Korea Open International Festival & Asia Championship,” hosted by International Taekwon-Do Federation (ITF) Korea Headquarters is going to be held in Korea this August, raising expectations in inducing positive economic prosperity through a large international event and future sports exchanges.
ITF and the organizing committee for ITF 2017 Korea Open International Festival & Asia Championship will held “ITF 2017 Korea Open International Festival & Asia Championship” in Incheon’s Namdong Gymnasium for 3 days from August 3rd to 5th.
The coming event has diplomatic, political, economic and cultural significances in that Korea, where Taekwondo has originated, is seeking to level the playing field within various participating nations.
In particular, Incheon, where the competition is to be held, is going to enjoy large economic benefits as it will serve as a venue of festivity where a number of people and culture will come together through the visits of the delegates from participating nations.
ITF and the organizing committee for ITF 2017 Korea Open International Festival & Asia Championship (chairman of organizing committee Chee-soo Lee) anticipates that “this event will result in job creations as well as additional economic effects through the visits of a great group of players and executives from various countries.”
Such anticipation is based on the analysis that the economy will grow sequentially through revitalization of local market involved in accommodation, food and cultural experience, and tourism around the delegates participating in the competition. This implies that such international competitions are not only limited to the sports field but also serve as international business that contributes to national and local economic development.
Hosting “ITF 2017 Korea Open International Festival & Asia Championship” in a global city like Incheon is expected to serve as an important momentum in initiating the inflow of large foreign capital beyond expanding utility infrastructure and promoting the host city. Thus, through adopting the marketing strategy of combining Taekwondo and Korean Wave cultural contents, Incheon is expected to see vitalization of tourism industry and increase in tourism income. As the host city is likely to be recognized as the representative city of the birthplace of Taekwondo after the event is held in success, it is analyzed that the future additional economic effect of Incheon area will actually be larger.
“Through this competition, Korea will increase its global presence and the host city will be well known,” said ITF Korea Federation chairman Chee-soo Lee. “ITF will play a significant role in publicizing the excellence of Taekwondo.”
ITF is poised to pour efforts in letting the world know about the root and historicity of ”Taekwondo” through various projects including international competitions.
As one of the best cultural items in Korea, Taekwondo is a martial art performed globally. Currently Korean Taekwondo is largely supported by ITF and World Taekwondo Federation(WTF). ITF (International Takedown-do Federation), the first Korean international Taekwondo organization, was founded in March 1966 at former Chosun Hotel, Seoul, by Korea, Vietnam, Malaysia, Singapore, West Germany, U.S.A., Turkey, Italy and Federation of Arab Republics. Currently, ITF (president Joong-hwa Choi) is based in Canada, with about 400million trainees in nearly 140 countries around the world.
North Korea is also keeping the tradition of Taekwondo but their claim of North Korea being the birthplace of Taekwondo is not true. North Korea joined ITF in early 1980, but left the federation a while ago. Thus, it is highly erroneous to think that “WTF is South Korean Taekwondo while ITF is North Korean Taekwondo”. WTF (World Taekwondo Federation), which was officially approved as Olympics Taekwondo, was launched in 1973, 7 years after the establishment of ITF.
Sports is the culture and dignity of humanity and is not only a means for competing in a certain field but also a means for sharing and communicating inspiration and happiness. It is also a smart economic system in that it serves as a place of international diplomacy and sharing of high-tech and additional values. Even when there are political conflicts, the world enjoys reconciliation and friendship through sports, and that makes Taekwondo the means of communication forwarding the message of peace.
“In the history of sequential establishments of ITF and WTF, followed by the structure of the two federations coexist, ing compatibly, Taekwondo is recognized in various ways,” said ITF chairman Chee-soo Lee. “However, as the Taekwondo practices of each country share the same root, Taekwondo should be recognized as single Korean sport.”
“We will try our best to upgrade the image of ITF Taekwondo through this competition, and the world Taekwondoists would maintain exemplary exchanges through harmony and communications,” he added.
The organizing committee is planning to present various events combining Korean Wave contents and cultural characteristics of Incheon. The potential benefits created through the sport events are expected to serve as the crucial foundation eventually recreating economic benefits of local governments.

News Source : ITF Korea HQ



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