page_title: Park Tae-hwan
section_title: Financial crisis
hierarchical_section_title: Park Tae-hwan / Difficulties / Financial crisis
caption_attribution_description: 한국어: LG Whisen 박태환 광고사진
context_page_description: Park Tae-hwan is a South Korean competitive swimmer who is an Olympic gold medalist and world champion. He has four Olympic medals, five world titles, and 20 Asian Games medals. He won a gold medal in the 400-meter freestyle and a silver in the 200-meter freestyle events at the 2008 Summer Olympics. He also won two silver medals at the 2012 Summer Olympics in the 200- and 400-meter freestyle. He is the first Asian swimmer to claim a gold medal in the men's 400-meter freestyle, and the first-ever South Korean swimmer to win any Olympic medal in swimming. He also holds 3 Asian Records, all in Men's Freestyle. He is best known for his impressive range and versatility, as he is able to compete at international level in 100-, 200-, 400- and 1,500-meter freestyle.
context_section_description: Park has allegedly faced many financial difficulties, despite being a world-class athlete. SK Telecom had sponsored Park from 2007 to 2012 but when his contract expired in 2012, SK Telecom decided to discontinue their sponsorship. Park was left to support his own athletic career for half a year. In the same year, Korea Swimming Federation (KSF) refused to give Park his 50 million won (approximately $44,950 USD) for winning two silver medals in the London Olympics. He received this award money in 2014. In 2013, it was revealed that Park did not have a swimming pool to train in. Within Seoul, there were only 7 swimming pools with a 50-meter lane, the international standard. These pools were either all booked or did not fulfill basic conditions like the water temperature which made it impossible to train in. In March 2013, Park signed with the Incheon Metropolitan City’s swimming team. Park has since been receiving an annual salary from the city. In the sport centre of Incheon City, the swimming arena is named as Park Tae-hwan Aquatics Center (문학박태환수영장) in honor to Park's unique achievement.
caption: Park in LG campaign
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