GANGWON-DO < invest Korea

According to Yonhap News,

(SEOUL=Yonhap News) South Korea's two largest automakers signed on as sponsors for its first Winter Olympic Games on Thursday.

The organizing committee for the 2018 PyeongChang Winter Olympics said Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. will provide some 4,100 official vehicles and cash to help run the multisport competition.

The signing ceremony took place in PyeongChang, Gangwon Province, some 180 kilometers east of Seoul.

As a 'Tier One' partner, Hyundai-Kia will enjoy a wide range of marketing rights, including the use of intellectual property and the use of PyeongChang's logo in their advertising campaigns.

Hyundai Motor Group, which holds the two carmakers under its wing, was an official partner of the 2014 FIFA World Cup in Brazil. More recently, it was a sponsor for the 2014 Incheon Asian Games and the 2015 Gwangju Summer Universiade, both sporting events held in South Korea.

jeeho@yna.co.kr

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