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

The electronics company, a flagship of South Korea’s Samsung Group, joined 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.

Gyehyun Kwon, vice-president and head of Samsung Electronics’ Worldwide Sport Marketing and Global Communications Department said, ‘We learned a lot from the Seoul Olympics. 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. 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. Samsung and the IOC came to 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.

According to the company brand value ratings issued annually by Interbrand, Samsung’s brand value grew more than five-fold from $3.1 billion in 1999 to $16.2 billion in 2006.

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.
Source: China Daily