Hyundai Motor Group chairman Chung Mong-koo gave the Korean national archery team a W1.6 billion bonus (US$1=W1,136) to congratulate them on their grand achievements at the London Games earlier this month.
Hyundai Motor and the Korea Archery Association held an event for the Olympic archery team at the Grand InterContinental Hotel in Seoul on Wednesday. Some 400 people, including the archers and their families, Minister of Culture, Sports and Tourism Choi Kwang-sik, and Chairman of the Korean Olympic Committee Park Yong-sung attended the event.
In his welcoming speech, Hyundai Motor vice chairman Chung Eui-sun, speaking on behalf of Chairman Chung Mong-koo, who is on a business trip to the U.S., said, "The national archery team enhanced the honor of Korean archery by winning three gold medals and one bronze medal at the London Olympics."
Ki Bo-bae, who won two gold medals in the women's individual and team events, received W250 million, while Oh Jin-hyek, who won a gold in the men's individual and a bronze in the team event, received W200 million.
Lee Sung-jin and Choi Hyeon-ju, who won a gold in the women's team event, received W120 million each, and Im Dong-hyun and Kim Bub-min, who won a bronze in the men's team event, received W50 million each.
Chung Mong-koo served as head of the Korea Archery Association from 1985 to 1997, and has been the honorary chairman of the association since 1997. Chung Eui-sun, who has been serving as head of the association and the Asian Archery Federation since 2005, attended all of the events featuring the national archers during the London Games to cheer them on.
"Hyundai has invested around W30 billion to foster young archers and develop cutting-edge equipment for the sport over the last 27 years," a Hyundai staffer said.