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Pyeongchang 2018 confirms deal with KEB Hana Bank

The Pyeongchang Organising Committee for the 2018 Olympic and Paralympic winter Games (POCOG) has today (Tuesday) confirmed a sponsorship deal with financial services company KEB Hana Bank.

The deal names KEB as the main banking partner of the Pyeongchang 2018 Games, which will run from February 25 to March 9.

According to Korean news agency Yonhap, which first reported the deal last week, KEB will offer POCOG KRW11bn (€9m/$9.6m) in sponsorship fees. According to Yonhap, POCOG had previously been seeking a fee of KRW15bn from its main banking partner.

KEB will be responsible for ticket sales for the Games, and will set up branches at various Olympic venues to provide a service for athletes, officials and fans.

The company will also be granted the use of the Pyeongchang 2018 logo for marketing campaigns.

KEB reportedly saw off competition from two other firms to become the Games’ main banking partner.