Korean names, much like their Western counterparts, come with special meaning chosen by parents and elders in the family. Before a child is born, the parents and grandparents visit a fortune-teller to choose the best name that will ensure the baby wealth, happiness, knowledge, or fame. This is based on a number of factors that expectant parents will consult with the fortune teller. Sometimes they will choose a name based on something that they like.
As a token of friendship, Korea has given several important government figures Korean names. The latest in this list is President Obama, who says he is thankful for his new moniker. His Korean name is O Han-ma, which really isn't too far off from his given last name. To be honest, his last name already sounded like a Korean name to begin with.