hankyoreh

Feb. 26.

Kim Yu-na took home the gold medal in women’s figure skating at the Winter Olympic Games in Vancouver with a score of 228.56 points, the highest in the history of the event.

Kim secured the first place position at Vancouver’s Pacific Coliseum on Friday (Korean time) with a free program score of 150.06 points, the highest in the history of women’s figure skating. Including the 78.50 points she received for the short program, her final total of 228.56 gave her the gold medal ahead of Japan’s Asada Mao, whose 205.50 score put her in second place. The gold medal is South Korea’s first in the sport, coming 42 years after three South Korean athletes first competed in the event at the 1968 Winter Olympics in Grenoble.


Observers are also predicting that the gold medal will increase Kim’s already sizeable wealth. To begin, she receives prize money equivalent to 60 million Won ($52 thousand USD) for the victory. In addition, her annuity score rises from 24 to 114, meaning that she receives a monthly annuity equivalent to one million Won ($862 USD). Kim has been receiving a monthly annuity equivalent to 300,000 Won with the 24 points she earned through one victory at the World Figure Skating Championships, where she earned 20 points, and two third-place finishes, which earned her two points each.


The prize money and annuity payments, however, are just the pocket change. Observers in the advertising business are calling it a matter of time before Kim, who assumed her place as the biggest “blue chip” with her gold medal win, is sitting on a large fortune. She has already earned an estimated 15 billion Won ($13 million USD) for endorsements since 2008. A representative of one advertising agency said, “She has already surpassed the ‘Special A level’ and is now receiving an unprecedented amount of money.” The official also predicts the “stratospheric rise of Kim Yu-na’s value will continue.”

A representative of another agency currently in the process of re-signing an advertising contract with Kim said, “We are in the process drawing up contracts with her for three advertisements for one billion Won per year, but now that she has won the gold medal, there is sure to be a premium.”

An official at another advertising firm, however, predicted, “Her value will go up in the short term, but if she turns professional, there will be an immediate adjustment.” The official explained, “Consumers in South Korea like seeing her competing and winning overseas, but if she turns pro, that kind of thing goes away.” In other words, her future course of action is linked with her revenue.


Kim has announced her intention to compete in next month’s World Figure Skating Championships, but after that her schedule has not been decided. Her choreography coach, 44-year-old Canadian David Wilson, said, “The choice is entirely up to her.” Kim’s contract with IB Sports also expires in April.


One possibility is that Kim could retire following the Olympics and tour the world doing ice shows. Indeed, Kim stated last year that she wanted to turn pro after the Olympics and perform in various ice shows around the world. She also confessed feeling pain and stress about adjusting her weight, and she has been spotted admiring the ice shows of her idol, 30-year-old U.S. skater Michelle Kwan.


Kim has participated in four ice shows over the past two years. She is known to have received appearance fees in the tens of millions of Won. Experts predict that her invitation fees will not increase significantly following her gold medal win. Sema Sports Marketing president Lee Seung-hwan said, “Unlike golf or soccer, ice shows have an appearance time of three to four minutes, tops.” Lee added, “It is not profitable to give large appearance fees to a particular athlete.”

Another possibility is that Kim might pursue another Olympic victory. The late Norwegian skater Sonja Henie and East German skater Katarina Witt, now 45, both became legends by winning three and two consecutive Olympic gold medals, respectively. But observers are discounting this possibility, given that Kim will be 24 years old in four years, which is a relatively advanced age for a figure skater.

Please direct questions or comments to [englishhani@hani.co.kr]