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PyeongChang 2018 Organizers At 70 Percent Of Sponsorship Target

South Korean organizers of the 2018 Winter Olympics have reached 70% of their target of 870B won ($728M) "in domestic sponsorships," according to Andrew Dampf of the AP. PyeongChang Organizing Committee President Cho Yang-ho said, "A few (deals) are not finalized but I have full confidence that we can meet the target. If we don't need it we don't have to reach the target. If we exceed it we can leave a legacy fund." The list of Tier 1 partners "currently includes KT (Korea Telecom), Youngone Outdoor (The North Face), Korean Air, Samsung electronics, Hyundai-Kia Motors and SK Group." There "are 13 more sponsors in Tier 2 and 3." The projected budget for infrastructure is $11B, "including a new high-speed railway connection from Incheon international airport." The Games operating budget is projected at $1.9B. Cho "declined to offer details on a security budget for the games, saying there are no issues with the government amid concerns over North Korea's plans to fire a long-range rocket this month." Cho said, "When we need it they give us the budget" (AP, 2/5).

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