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KBO League team signs lucrative naming rights deal

Korean KBO League baseball club Nexen Heroes has signed local securities firm Kiwoom Securities as its new Naming Rights Partner under a deal worth a basic KRW50bn (€39m/$44.6m).

Tyre manufacturer Nexen has backed the Seoul-based team since 2010, but the five-year deal announced today (Tuesday) is set to see Kiwoom take over from 2019.

Korean news agency Yonhap said an official signing ceremony will take place in January, at which time the new club name and logo will be unveiled.

The club joined the KBO in 2008 with the moniker Woori Heroes through a naming rights agreement with Woori Tobacco.