The Pyeongchang Organising Committee for the 2018 Olympic and Paralympic winter Games (POCOG) has announced that domestic sponsorships for the event have surpassed 1tn won (€779m/$926m).
The figure is 7.6 per cent more than the committee’s original target of 940bn won.
A total of 66 domestic companies have signed on as sponsors of the event, a figure POCOG said surpasses the 2014 Games in Sochi, Russia (44); the 2010 Games in Vancouver, Canada (56); and the 2006 Games in Torino, Italy (34).
POCOG said in a statement: “After consulting with the International Olympic Committee (IOC), we tried to bring in sponsors in areas like semiconductors, department stores, duty free shops and catering services, which were not seen in other events. Some companies joined as donors when sponsorships in certain areas had already been signed by others.”
Organisers are still pursuing more sponsorships with public-sector companies ahead of the Olympics, which run from February 9-25. The Paralympics take place from March 9-18.
POCOG president Lee Hee-beom (pictured) added: “With POCOG's effort to reduce the budget and (increase) the participation of local private and public firms, we are now one step closer to achieving an 'economic Games’. We'll do our utmost to host the most perfect Olympics and Paralympics.”