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            2008Olympics > Olympic Economy

          Samsung prepares to WOW audiences

          (China Daily)
          Updated: 2007-06-08 10:17

          Samsung Electronics is stepping up its partnership with the Olympic Movement.

          The electronics company, a flagship of South Korea's Samsung Group, joine the list of sponsors at the 1988 Seoul Games. Two decades later, it is one of 11 Worldwide Partners, or TOP Partners, for Beijing 2008, a role the company has performed successfully since 1997.

          "We learned a lot from the Seoul Olympics," said Gyehyun Kwon, vice-president and head of Samsung Electronics' Worldwide Sport Marketing and Global Communications Department.

          "We began to realize that the Olympics is an excellent platform in terms of marketing, public relations and public recognition. In the 10 years leading up to 1997, we prepared well in every respect, weighing up the advantages and disadvantages of us being a potential Worldwide Partner," he said.

          "After that, we just waited for an opportunity."

          This happened in 1996 when the International Olympic Committee (IOC) turned to Samsung as Motorola was only willing to pay half of the agreed sponsorship money. After three days of round-the-clock negotiations, the two sides reached an agreement.

          During the Beijing Games, Samsung will provide more than 10,000 pieces of mobile equipment to guests, staff, athletes and journalists. It will continue to run Wireless Olympics Works, or WOW, a cellular network that gives designated users timely information about event results, medal counts and other matters.

          Apart from providing the wireless telecommunications equipment for previous Olympics, Samsung has also sponsored a wide range of sports events and clubs worldwide, including a five-year deal estimated to be worth $100 million with English Premier League Champions Chelsea.

          Accordingly, Samsung's brand value grew more than five-fold from a mere $3.1 billion in 1999 to $16.2 billion in 2006, according to company brand value ratings issued annually by Interbrand.

          On April 23, Samsung demonstrated its commitment to the Olympic Movement by signing a new TOP partner contract till the 2016 Summer Games with the IOC in Beijing.



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