Organizers, IOC sign marketing pact

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Organizers, IOC sign marketing pact

The organizing committee for the 2018 Winter Olympics in Pyeongchang and the International Olympic Committee (IOC) signed an agreement yesterday for the implementation of a joint marketing program for the Korean alpine town.

At a ceremony held in Seoul, Jacques Rogge, president of the IOC, and Kim Jin-sun, head of the Pyeongchang Organizing Committee for the 2018 Winter Olympics, signed the Marketing Plan Agreement (MPA).

The agreement will provide the legal and technical basis for the marketing program.

With the signing, Pyeongchang’s organizing team has been entrusted with the responsibility of activating Olympic marketing rights in the coming years.

According to the Olympic organizers, the deal is expected to generate about 1.1 trillion won ($1 billion) from the marketing program, most of which is expected to come from domestic sponsorship deals, licensing and ticketing. Also under the deal, the marketing partners for Pyeongchang will be granted exclusive access to the use of intellectual property from Pyeongchang’s organizing team, such as the emblem for the Olympics and other Olympic symbols.

In his speech, Rogge noted the significance of the signing, which he said will allow the local organizers to “truly take ownership of their promotional and financial destiny.”

“The private sector clearly plays a crucial role in delivering the (Olympic) Games,” Rogge said. “And the IOC will provide you with support and guidance, whenever you need it along the way. We’re confident that you have everything in place to be highly successful in your new endeavor.”

Kim, the chief organizer, said his team will embark on marketing activities to generate revenues, which in turn will help Pyeongchang stage successful Olympics. He also urged active participation by Korean businesses.

Pyeongchang, some 180 kilometers east of Seoul, beat Munich of Germany and Annecy of France to win the right to host the 2018 Winter Games. Pyeongchang had come up short in two earlier bids, losing to Vancouver and then Sochi, Russia. Yonhap
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