Posted April. 27, 2010 17:07,
Olympic figure skating champion Kim Yu-na, 20, is setting up her own management company with her mother.
Kims law firm Jian said Monday that it formed All That Sports Corp. with her mother Park Mi-hee as a director and shareholder and the skater as a partner. All That Sports will manage the ice queens activities and expand its business scope to holding ice shows and fostering children who want to pursue sports.
Kims contract with her current management agency IB Sports will expire Friday.
Since IB Sports is doing a number of businesses, it wasnt able to exclusively manage Yu-na. So I set up a new corporation to support her better. I thought it necessary to manage her more directly, Park said.
All That Sports is based in Seouls Samsung-dong district and will begin operating Saturday. Park invested 70 percent of the paid-in capital of 100 million won (90,570 U.S. dollars) and Kim 30 percent. Park chose the name All That Sports.
A source from the law firm said, All That Sports is not thinking about going public but is likely to expand the scope of its business to other directions, not just Kim Yu-na.
Jian also said the resignation of a key IB Sports executive amid controversy was not a problem.
The contract says employees who worked at IB Sports cannot sign an agent agreement with Kim Yu-na for two years within 18 months from the point of the contracts expiration date, a Jian source said. If a resigned executive sets up a management company for Kim Yu-na, it will be a problem, but otherwise, it wont be a problem in the contract.
Former IB Sports Vice President Koo Dong-hoi is said to be an adviser to the new agency.
IB Sports said on the establishment of All That Sports, We hope the new company set up by Kim Yu-na will prosper in the future. Hopefully, we could cooperate with it in future business.