Korea Tennis Association seizes property for billions of debt… Administrative Paralysis
Caught in the remodeling business of the six tennis courts…
Korea Tennis Association
Suspicion of the president of the association
As the number of young club members increased, the Korea Tennis Association,
which oversees tennis administration, was caught in a debt of billions of won, putting the administration virtually paralyzed. 카지노사이트원
According to the tennis world on the 23rd, the Korea Tennis Association has been unable to repay billions of won in debt to Mediawill,
a media and catering company, and all bank accounts under the association’s name have been seized.
The problem began in 2015 when the Tennis Association took over the tennis court remodeling project at the Military Academy in Guri, Gyeonggi Province.
The Tennis Association tried to develop this large tennis court with 30 sides into a cradle for the development of Korean tennis.
It cost 3 billion won to erect a roof and tidy up the court surface so that tennis can be played regardless of the weather.
This money was borrowed from Mediawill, run by his younger brother, former chairman Joo Won-hong, who was the chairman of the association at the time.
And instead of repaying his principal, he decided to give Mediawill the right to operate the six courts.
However, a problem was raised about a private company, not the tennis association, taking the management rights of the national athletics property.
Some pointed out that the remodeling project itself damaged the green belt.
In the 2016 election for the president of the association, former chairman Kwak Yong-un,
who defeated former chairman Joo and became chairman, did not fulfill his contract with Mediawill for these reasons.
Mediawill filed a lawsuit against the Tennis Association and won after a five-year court battle.
As interest was attached to the principal amount of 3 billion won, the amount owed by the tennis association increased to 6 billion won.
After the current chairman Chung Hee-kyun’s system was launched in early 2021, the Tennis Association reached an agreement with Mediawill.
While repaying the principal, it was decided to pay back part of the interest and pay off the remaining interest in installments of 500 million won each year.
Instead, it was decided to secure the right to operate the athletics tennis court and hand it over to Mediawill as per the original contract.
However, the promise regarding the right to operate the tennis court was not kept, in the end, the tennis association property was seized again at the beginning of this month.
As the money line was blocked, the administration of the tennis association was paralyzed.
It is not even known whether the employee’s salary will be paid on the 25th, which is the pay day.
An official from the Tennis Association said, “Chairman Chung said he would pay the staff’s salary even if he contributed his personal money.”
Suspicions are also being raised one after another.
As Chairman Chung took office, he created an outside organization called the Korea Junior Tennis Training Support Association.
Through the sponsorship account, he received donations from various contracts signed in the name of the Tennis Association and part of the advertising revenue
from international competitions and used them as personal money, which is a highly illegal act. that it did
There are also claims that there are suspicions of illegality and preferential treatment in various contracts,
such as the fact that the official ball supplier was selected at the successful bid price of 140,000 won,
but the actual contract was made at 198,000 won.
Regarding the suspicions related to the sponsorship association, the Tennis Association said,
“When the association account was unavailable due to foreclosure,
I made two accounts under the name of the sponsorship association as accounts for withdrawals of the association.
There is,” he denied.
Korea Sports Council
Regarding the allegations related to the official ball,
the successful bidder has repeatedly conveyed its intention that it will not be able to deliver at 140,000 won per box, inevitably signed a contract to change the delivery quantity through the approval of the Korea Sports Council,
then the unit price was reduced to 198,000 won.
explained that it had risen.
Chairman Chung said, “I was in an unavoidable situation due to the seizure of the association,
so unintended things could have happened,”
but “I did my best to normalize the association, I don’t think anything illegal happened.
I will look back,” he said.