KEB Hana Bank is now the "main official commercial banking sponsor" of the 2018 PyeongChang Olympics, according to Kang Yoo-rim of YONHAP. PyeongChang had been "struggling to secure sponsorship deals from the financial sector." The banking partnership was selected in an "open bid format where KEB Hana Bank had to compete against two other potential candidates." The PyeongChang Olympic Committee and KEB Hana Bank had been "continuously negotiating the sponsorship deals." KEB Hana Bank reportedly offered 11B won ($9.6M) in sponsorships, though PyeongChang had earlier said that it sought 15B won ($13.1M) from its top banking partner. As the main banking partner for the Winter Olympics, KEB Hana Bank "will be responsible for ticket sales." The bank will also "set up branches across the Olympic venues to serve participating athletes, officials and spectators." The bank is granted "various marketing rights," including the usage of the PyeongChang logo in KEB Hana Bank's advertising campaigns (YONHAP, 4/19).
TEST SUCCESS: YONHAP also reported organizers of the 2018 PyeongChang Winter Games said Tuesday that the Olympic test events over the past 14 months have "mostly been a success," though there is "still room for improvement before the real competition." PyeongChang and its adjacent sub-Olympic host cities have hosted 25 Olympic and Paralympic test events at 12 venues since Feb. '16. PyeongChang Organizing Committee Secretary General Yeo Hyung-koo said that the series of test events has been a "major boost to his team's collective confidence." Yeo: "Our confidence is such that we believe we can open the Olympics right away" (YONHAP, 4/18).
