WTF President Chungwon Choue (right) shaks hands with Chairman Suh Jung-Ho of Ambassador Hotel Group in a signing ceremony held at Sofitel Ambassador Hotel in Jangchung-dong, Jung-gu, central Seoul on Nov. 23, 2005.

The World Taekwondo Federation signed a memorandum of understanding with Ambassador Hotel Group on the designation of the group as the official hotel of the WTF in a ceremony in Seoul on Nov. 23, 2005.

For the WTF, it marked the first MOU signing of its kind.

The agreement was inked between WTF President Chungwon Choue and Jungho Seo, chairman of Ambassador Hotel Group in a ceremony at Sofitel Hotel Seoul.

Under the agreement, Ambassador Hotel Group will serve as the WTF's official hotels for all the WTF-promoted and/or organized events conducted in Korea, including international Taekwondo competitions, seminars and meetings.

The Ambassador Hotel Group will, in turn, provide the most favorable accommodation services to all members of the global WTF Taekwondo family attending WTF events in Korea,

"I firmly believe that both the WTF and Ambassador Hotel Group would benefit greatly from this unique partnership," said WTF President Choue in his speech during the ceremony.