State-run public utility firm Korea Electric Power Corp. signed as a corporate sponsor for the 2018 PyeongChang Winter Olympics on Wednesday, according to YONHAP. KEPCO is the "first public corporation to lend support to PyeongChang 2018." As a "Tier One" partner, KEPCO reserves a "wide range of marketing rights," including the use of intellectual property and the use of PyeongChang's logo in its advertising campaigns. The PyeongChang organizing committee declined to disclose the amount of the sponsorship contract. Prior to KEPCO's signing, PyeongChang had reached 898.4B won ($795.4M) in sponsorships, or 95.5% of its target of 940B won ($832.2M). Last year, PyeongChang "struggled to draw financial support from both private and public corporations." It ended '16 about 10% "shy of its sponsorships target." PyeongChang's efforts were "hampered by a major political scandal involving former President Park Geun-hye and her longtime friend, Choi Soon-sil" (YONHAP, 8/23).
AIR CHINA: The Beijing Organizing Committee for the 2022 Olympics and Paralympics named Air China an official partner for the Games. Air China is the country's largest airline and was also the official partner for Beijing 2008. Beijing 2022 said that the official dairy products partner and official sports apparel partner will be announced to the public soon (IPC).