Modern history of East Asian martial arts
Taekwondo was developed from karate for use in the Republic of Korea Armed Forces from 1954. For this purpose, karate terminology needed to be "nationalized". The name "taekwondo" is due to shotokan practitioner and army general Choi Hong Hi. After the Korean War, Taekwondo was further developed into a purely sportive discipline, since 1973 overseen by the World Taekwondo Federation. 
During 1964-1966, Choi Hong Hi continued to promote taekwondo, working to put together a world-class exhibition team. Taekwondo's emphasis on jumping and flying kicks dates to this period. While taekwondo was based off karate, the structural changes made in the 1950s and 1960s were significant, and it cannot now be considered a branch of karate, but is a standalone modern martial art. Taekwondo was presented at the Summer Olympics as a demonstration sport in 1988 and 1992, and became an official Olympic discipline in 2000.
Taekwondo
In 1973 the KTA established the World Taekwondo Federation (WTF, now called World Taekwondo, WT) to promote taekwondo as a sport. The International Olympic Committee recognized the WT and taekwondo sparring in 1980. For this reason, the Kukkiwon-defined style of taekwondo is sometimes referred to as "Sport-style" taekwondo, "Olympic-style" taekwondo, or "WT-style" taekwondo, but the style itself is defined by the Kukkiwon, not by the WT, and the WT competition ruleset itself only allows the use of a very small number of the total number of techniques included in the style. Therefore, the correct term for the South Korean government sponsored style of Taekwondo associated with the Kukkiwon, is Kukki Taekwondo, meaning "national taekwondo" in Korean.