Leadership Luncheon
President Park Geun-hye invited South Korea's top business leaders to Cheongwadae, or the Blue House, for a luncheon earlier today to encourage them to more actively sponsor the country's first Winter Olympics in 2018.
She remarked, “Thanks to the support of the business community, we are hosting the Winter Olympic games after 2 unsuccessful bids. The Olympics will provide an excellent opportunity for companies to enhance your brand value.” Park stressed the need for urgent sponsorship, asking for the interest and assistance of business leaders.
The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games has been in continuous talks with companies to create more corporate sponsorships to raise necessary funds.
There are four South Korean companies that have pledged to sponsor the PyeongChang organization to the tune of US$229 million so far, including KT and Samsung. Samsung Electronics will supply a wide range of devices including smartphones, tablets, laptops, and desktops for athletes and other participants. The world's top smartphone maker is one of the worldwide top partners of the International Olympic Committee.
At the lunch, the President also talked about the new role of business in the future of Korean society. She referenced the story of the Medici family, which historically used their wealth and political power to support the arts and humanities. Park said that Korean economic leaders can fill similar roles to the family that cradled the Renaissance to flower Korea’s cultural prosperity and realize a creative economy.