Taekwondo was set to feature at its sixth Olympics in Tokyo, while Para-taekwondo was due to make its Paralympic debut. 

The Games have now been postponed until 2021 due to the coronavirus pandemic, however.

In an interview with Yonhap, Choue conceded there would be a financial loss from the postponement, but that he viewed it as an "opportunity".

"The International Olympic Committee (IOC) considered the postponement very carefully and thought about the athletes who prepared hard for four years for the Games," said Choue.

"However, I support the decision of the IOC. 

"There is a large financial loss caused from the postponement but as the situation got worse there was no other option. 

"Athletes and officials' safety and well-being are the priority. 

"Now, it's time to focus on the successful Games for next year.

"We will take this postponement as an opportunity to maximise preparation time for a successful Games. 

"We will have an Olympic Games that will be better than any of the past Olympics."

The majority of World Taekwondo events have been cancelled or postponed this year due to the pandemic, which has now infected more than 1.5 million people worldwide and killed just under 90,000.

The organisation has also switched its Extraordinary Council meeting on May 12, originally meant to be held in the Olympic House in Lausanne, to a teleconference meeting.  

Next year's World Taekwondo Championships, scheduled for May 2021, have been affected.

They will now take place after the rescheduled Olympic and Paralympic Games. 

Despite the disruption, Choue claimed he was confident that World Taekwondo could "overcome" the current situation.

"We will restart and we will overcome this hardship successfully," he said. 

The Tokyo 2020 Olympics are now set to take place from July 23 to August 8, 2021, followed by the Paralympics from August 24 to September 5.