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South Korean Firms Pledge Billions for PyeongChang Winter Olympics

South Korean Firms Pledge Billions for PyeongChang Winter Olympics

SEOUL, Aug. 14 (Korea Bizwire) – Dozens of South Korean companies have pledged to sponsor more than 894 billion won (US$781 million) to the PyeongChang Winter Olympics, the PyeongChang organizing committee said Saturday. The pledge is about 5 percent shy of the committee’s goal of drawing 940 billion won and accounts for 33.6 percent of the total budget for South Korea’s first-ever Winter Olympics to be held in the country’s eastern alpine city of PyeongChang in February. Samsung Group, South Korea’s largest [...]

Jeju Tourist Attractions Enjoy International Media Coverage

Jeju Tourist Attractions Enjoy International Media Coverage

JEJU, April 20 (Korea Bizwire) – Jeju Island has attracted international media coverage of famous tourist attractions, including its renowned UNESCO World Heritage Sites Seongsan Ilchulbong Peak and Manjanggul Cave, in the run-up to the PyeongChang 2018 Olympics. Last Thursday, international media outlet Al Jazeera visited Seongsan Ilchulbong Peak and Manjanggul Cave, according to Jeju government [...]

Torch Relay for PyeongChang 2018 to Start in November

Torch Relay for PyeongChang 2018 to Start in November

SEOUL, April 18 (Korea Bizwire) – The torch relay for the first Winter Olympics in South Korea will begin on the day when the countdown reaches 100 days, the event’s organizers said Monday. The organizing committee for the 2018 PyeongChang Winter Games said the Olympic flame, as per the 80-year tradition, will be lit in Olympia, Greece, the site of the ancient Olympic Games, on Oct. 24. The flame [...]

PyeongChang 2018 Selects KEB Hana Bank As Main Banking Partner

PyeongChang 2018 Selects KEB Hana Bank As Main Banking Partner

SEOUL, April 11 (Korea Bizwire) – Organizers of the 2018 PyeongChang Winter Games have selected KEB Hana Bank as their main banking partner, a senior Olympic official said Tuesday. The official said the two sides have wrapped up their negotiations that began in February, and will announce their deal in a ceremony at KEB Hana [...]

S. Korea to Spend 937.2 Bln Won in 2017 for Winter Olympic Preparations

S. Korea to Spend 937.2 Bln Won in 2017 for Winter Olympic Preparations

SEOUL, Jan. 10 (Korea Bizwire) – South Korea plans to spend 937.2 billion won (US$779.7 million) this year in support for the 2018 PyeongChang Winter Olympic and Paralympic Games preparations, the sports ministry said Tuesday.  The Ministry of Culture, Sports and Tourism said its 2017 budget for the Olympic preparations is down 49.4 percent from [...]

KT to Build Network for 5G Trial Service in PyeongChang by Sept.

KT to Build Network for 5G Trial Service in PyeongChang by Sept.

SEOUL, Dec. 13 (Korea Bizwire) – KT Corp., a South Korean broadband Internet and mobile carrier, said Tuesday that it will complete building a network for the fifth-generation network (5G) by September to provide a trial service of the technology at the 2018 Winter Olympics.  Under the plan, KT will install the network in PyeongChang, [...]