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Kiwoom renames Korean baseball club, Nexen exits

Financial services firm Kiwoom has signed as the new club naming sponsor at South Korean baseball club the Kiwoom Heroes, formerly known as the Nexen Heroes.

According to Korean press sources, Kiwoom signed the five-year deal worth 10 billion won ($9.5m/€8.3m) in November.

The club is based in Seoul and plays in the Korea Baseball Organisation league.

The Heroes joined the league in 2008, with Woori Tobacco holding the naming rights.

Nexen Tire became the naming sponsors in 2010, when the club was renamed the Nexen Heroes.