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PyeongChang Games Chief Says Samsung 'Will Make Good' On Sponsorship Commitment

PyeongChang 2018 Organizing Committee President Lee Hee-beom said that South Korean conglomerate Samsung Group "will make good on its sponsorship promises" to the 2018 Games "despite being caught up in a corruption scandal that saw its chief arrested last week," according to Peter Rutherford of REUTERS. Samsung extended its sponsorship contract as a worldwide partner of the Olympics in '14, "taking it through to the Tokyo 2020 Summer Games." It also "signed a local sponsorship agreement" worth more than $90M to support the PyeongChang Olympics. Lee said that the conglomerate "already demonstrated its commitment" to the PyeongChang Olympics. Lee: "Samsung has already committed to sponsoring the IOC and the PyeongChang organizing committee. Even with the recent scandal, I don't think (the Olympic sponsorship) will be affected" (REUTERS, 2/21).

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