Corporate Yu-na

The golden girl on the ice, figure skating Olympic champion Kim Yu-na, finally set up her own agency called AT (All That) Sports recently, ending her relationship with her former management company IB Sports.

AT Sports has Kim¡¯s mother, Park Mee-hee, in charge as the CEO with Kim Yu-na holding a majority share of the stocks. The company will take care of Kim¡¯s management including organizing ice shows and settling deals and contracts.

Setting up an agency seems to have become a trend for Korean sports super stars. Major Leaguer Park Chan-ho of the New York Yankees has already established his own marketing agency ¡®Team 61.¡¯ Footballer Park Ji-sung and golfer Yang Yong-eun also have their own management companies on operation.

The foremost reason for new agencies being established by sports stars is to promote efficiency in management and marketing. ¡°IB Sports has several businesses that make it difficult to focus solely on her. To help Yu-na more efficiently, I¡¯ve decided to take care of her,¡± Yu-na¡¯s mother Park said. These super stars think it is better off for an independent corporation to take care of their affairs concerning marketing, media relations, and dealing commercial contracts, etc.

These independent agencies, if successful, can be a stepping stone for Korea? underdeveloped or poor environment in the sports marketing field as it can bring up highly-efficient agencies that can meet the needs of world class sports stars and support them with utmost professionalism and expertise. Furthermore, this trend of setting up new agency companies is also expected to serve as a useful ground for nurturing future sports stars.

Yet, on the other side, the player himself or herself being the only or the majority profit source for the companies can be of concern. The fate of the company depends on the player¡¯s condition and status.

As of May 1, AT Sports, so called ¡®Corporate Yu-na¡¯ launched officially. But with pending legal issues concerning IB Sports¡¯ former executive accused of breach of trust for resigning his post and accepting a big role in AT Sports, Kim¡¯s new company still seems to have a long way ahead before realizing its rosy picture.

Will Kim¡¯s new company be able to set a new standard in sports marketing and management or will it be the other way round? The fate of AT sports is drawing attention of many sports fans as is the future of the skating queen.