cranes sit idle at the site of a hockey arena under
construction in Gangneung, South Korea, Friday, Feb.
5, 2016. Officials held a media tour on Friday of
venues for the upcoming 2018 Pyeongchang Winter
Olympics, ahead of a World Cup skiing event this
weekend that will be the first test event for the 2018
JEONGSEON, South Korea —
Organizers for the 2018 Pyeongchang Olympics say they have
gathered 70 percent of their target goal of 870 billion won
($728 million) for domestic sponsorships.
Organizing committee head Cho
Yang-ho says "a few (deals) are not finalized but I
have full confidence that we can meet the target."
Cho adds that discussions are
ongoing with 20 companies, saying "if we exceed it we
can leave a legacy fund."
The list of Tier 1 partners
currently includes KT (Korea Telecom), Youngone Outdoor (The
North Face), Korean Air, Samsung electronics, Hyundai-Kia
Motors and SK Group.
Organizers say the projected
budget for infrastructure is $11 billion, including a new
high-speed railway connection from Incheon international