Literal Translation
The art of breaking and smashing with the hand and foot. "Foot, Fist, Way"
Origination
Tae Kwon Do developed in Korea over 2,000 years ago. Korea was once divided into three kingdoms: Silla, founded in 57 B.C., Koguryo, founded in 37 B.C., and Baeckche, founded in 18 B.C. Silla was established near to the coast of the Korean penninsula, and was the smallest, least developed kingdom of the three. Silla was constantly under attack by Japanese pirates. In despiration, Silla eventually asked for help from neighboring Koguryo. King Gwanggaeto of Koguryo sent a force of 50,000 soldiers to help protect Silla. It was at this time that a select few of these soldiers were exposed to the earliest form of Tae Kwon Do, known as Taek Kyon. The King of Koguryo was so impressed with what he saw that he ordered training in Taek Kyon be incorporated into the formal education of the nobility.
The nobility was also educated in ethics that centered on 5 main principles known as the Code of the Hwarang-do:

Be loyal to your country.

Be obedient to your parents

Be trustworthy to your friends

Never retreat in battle

Never make an unjust kill
Modern Tae Kwon Do
Tae Kwon Do has evolved to be a powerful means to defend oneself and others. It is also a wonderful way to find self-discipline, confidence, and character.
Even today, the physical aspects of Tae Kwon Do are intertwined with the moral and philosphical elements of traditional Korean thinking. Modern Tae Kwon Do has expanded on the orginal Code of the Hwarang-do. Students of traditional Tae Kwon Do are bound to what is known as the Eleven Commandments of Tae Kwon Do:

Loyalty to your country.

Respect your parents.

Faithfulness to your spouce.

Respect your brothers and sisters.

Loyalty to your friends.

Respect your elders.

Respect your teachers.

Never take life unjustly.

Indomitable spirit.

Loyalty to your school.

Finish what you begin.