Samsung Group has released $92 million to support the PyeongChang 2018 Winter Olympics, through a domestic sponsorship contract. It signed the sponsorship agreement with the PyeongChang Organizing Committee for the Olympics and Paralympic Winter Games three years ahead.
In a signing ceremony on Monday in Seoul, Samsung Group agreed to be the POCOG official domestic partner, with a deal of $92.4 million. Both will work in various business areas of Samsung Group.
Recognized as a major player of Smart Olympics via its innovative products, the South Korean tech company provided outstanding items to the Olympic Games in the past. It started in Nagano 1998 Olympic Winter Games, and is a TOP or The Olympic Partner in International Olympic Committee (IOC), Wireless Communication. The PyeongChang Olympics is an extension of the Worldwide TOP Partnership with IOC, which contract sponsorship extends until 2020 with sectors for equipment in wireless communication, notebooks, desktops and tablets.
Samsung Group supporting Pyeongchang 2018 Winter Olympics and Paralympic is part of its commitment to social responsibility as South Korea’s representative, said the company’s Corporate Relations President Park Sangjin. POCOG President Cho Yang-ho expresses his happiness to have Samsung’s support and is confident that other Korean firms will come out to sponsor the games as well. With Samsung being added to the sponsorship list, Cho said they get a fresh strength, and is quite sure the event will be hosted successfully.
South Korea’s flag carrier Korean Air, in which POCOG President Cho is likewise heading as president, signed up last month. The organizers of the 2018 Winter Olympics and Paralympic Games struggle to find local sponsors, for the event’s revenue, as sponsors were initially rare. President Park Geun-hye of South Korea asked the local companies to support the games.
Another booster of the upcoming games is Korea International Corporation Agency. The latter is government-funded, that oversees the foreign assistance, while promoting the country abroad.
The games organizers still have until 2016 to reveal the game venues. However, they have as early as now to push their promotional activities.
They revealed the Mountain Cluster for the snowboarding and skiing events featuring the Olympic Stadium, wherein the Opening and Closing Ceremonies will be seen – the Alpensia Sports Park as well as the Bokwang Snow Park. The Alpensia Sports Park houses the Alpensia Ski Jumping Centre where ski jumping will be held. The Bokwang Snow Park will stage the snowboard disciplines and parallel freestyle skiing.
Gangneung Olympic Park’s Kwandong Hockey Centre will have the ice sports, as Gangneung will lead the disciplines. Aside from the Kwandong Hockey Centre, it includes Gangneung Olympic Park with its Hockey Centre, Oval, Ice Arena and Curling Centre.
Samsung Group’s support of the PyeongChang 2018 Olympics, has made POCG hitting more than 40 percent of its target sponsorship. Samsung has also been a worldwide IOC partner last year. The Galaxy phone maker will give assistance across various business areas in Asia’s first Winter Olympics run-up outside Japan. Samsung also sponsored the Seoul Olympics in 1988.
By Judith Aparri
Photo courtesy of SamsungTomorrow – Flickr License