Wednesday, December 19, 2018
Samsung Electronics Extends Olympic Sponsorship for Eight Years
Worldwide Partner in Wireless and Computing Equipment
Samsung Electronics Extends Olympic Sponsorship for Eight Years
  • By Michael Herh
  • December 5, 2018, 10:05
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IOC President Thomas Bach (second from right) and Samsung Electronics vice chairman Lee Jae-yong (third from right) pose for a photo, together with IOC Marketing Commission Chair Tsunekazu Takeda (right) and Koh Dong-jin (left), president and CEO of the IT&Mobile Communications Division at Samsung Electronics, after signing a sponsorship agreement at the Shilla Hotel in Seoul on Dec. 4.

Samsung Electronics will sponsor the Olympic Games as a worldwide partner for eight more years until the end of 2028.

Samsung Electronics announced on Dec. 4 that it has extended its official Olympic sponsorship contract to 2028 with the International Olympic Committee (IOC).

Ko Dong-jin, CEO and president of the IT and Mobile (IM) Business Division at Samsung Electronics and Takeda Tsunekazu, chair of the IOC Marketing Commission, signed a contract to extend the sponsorship to the 2028 Summer Olympic Games at the Shilla Hotel in Seoul. Lee Jae-yong, vice chairman of Samsung Electronics, and Thomas Bach, chairman of the IOC, attended the signing ceremony.

Under the sponsorship agreement, Samsung will participate as an official worldwide partner in the wireless telecommunication and computing equipment category in the 2022 Beijing Winter Olympic Games, the 2024 Paris Summer Olympic Games, the 2026 Winter Olympics and the 2028 LA Summer Olympic Games.

By striking the deal, Samsung Electronics secured the right to use 5G, augmented reality (AR), artificial intelligence (AI), and virtual reality (VR) technology in addition to wireless and computer products at the Olympic Games.

As a consequence, Samsung Electronics will work as a global Olympic partner for 30 years in total. After joining the Olympics in 1988 as a regional sponsor of the 1988 Olympic Games in Seoul, Samsung signed a TOP (The Olympic Partner) agreement with the IOC to become a global sponsor of the Olympic Games in 1997. It has fulfilled its responsibilities as an official Olympic sponsor in the wireless telecommunication sector since the 1998 Nagano Winter Olympic Games.

In the Korean business world, experts say that the extension of the partnership reflects vice chairman Lee Jae-yong’s will to contribute to the success of the Olympic Games and support South and North Korea’s bid to co-host the Olympic Games.

Samsung Electronics has extended its official Olympic sponsorship contract to 2028.