No country has won multiple medals in the women's -49kg, but both athletes, ranked one and two in the world, could alter that in 2012.
Wu won gold at Beijing 2008, which was followed up with another title from the World Championships last year. Yang claimed silver.
Europe have yet to make a breakthrough in the Olympic Fly Weight competition, but Spanish third seed Brigitte Yague Enrique, the three-time world champion, will be looking to make up for missing her shot at gold in Beijing because of injury.
In the men's -58kg, Chinese Taipei could continue their dominance of the weight division through Wei Chen-Yang, the nation having won a medal - one gold and two bronze - from each of the category's three Olympic tournaments to date.
However, stiff competition will come from World Taekwondo Federation number one Spaniard Joel Gonzalez Bonilla - top seed at London 2012.
Republic of Korea, birth nation of the martial art, claimed all four golds at the Beijing 2008 Games, and three of those champions will be back to defend titles in London.
However, expect fierce competition to be top of the podium again as Turkey, China, Mexico, Iran and the USA all aim to mount a serious medal challenge.
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