Best of the Best

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Best of the Best is a 1989 American martial arts film directed by Bob Radler, and produced by Phillip Rhee, who also co-stars in the film. The film also starring Eric Roberts, James Earl Jones and Christopher Penn.
The plot revolves around a team of American taekwondoin facing a team of Koreans in a taekwondo tournament.[1] Several subplots pop up in the story - moral conflicts, the power of the human spirit triumphing over adversity are some themes.

Back in '92-'93 my roommates and I would watch this every time it was on HBO, which was often. Loved it.

It was funny to watch it 20 years later. I still enjoyed the the training and fighting scenes and there were plenty of great lines. The acting for most of the film was pretty silly though.

http://www.imdb.com/title/tt0096913/