Samsung Electronics will officially sponsor the Olympics until 2028. As such, it has extended its original contract by eight years from 2020.
On Tuesday, Samsung Electronics signed a contract with the International Olympic Committee (IOC) to extend its official sponsorship contract to the 2028 Summer Olympics Games in Los Angeles.
The president of Samsung Electronics Koh Dong-jin, along with the company’s vice chairman Lee Jae-yong signed the contract with Tsunekazu Takeda, chairman of the IOC Marketing Committee, and IOC president Thoman Bach present.
Under the sponsorship contract, Samsung Electronics will participate in the wireless and computing field until the 2026 Winter Olympics and the 2028 Los Angeles Olympics, following the 2022 Beijing and 2024 Paris Olympics. The venue for the 2026 Winter Olympics is still undecided.
Through this sponsorship contract, Samsung Electronics has secured rights not only for wireless and computer products, but also for 5G, AR (Artificial Reality), AI (Artificial Intelligence), and VR (Virtual Reality) technologies that operate on products.
Talking about the contract extension, Koh said that they would help to “spread the Olympic spirit” and contribute to the event “through wireless and computing technologies that have led to human innovation and fourth industrial technologies that will open up the future.”
Likewise, Bach said the IOC is happy to work with Samsung for another 10 years. Samsung Electronics and the IOC have a long relationship going back to 1988 Olympic Games in Alberta, Canada. Continuing, Bach added that “as the IOC and Samsung have had a great partnership for the success of the Olympics, we will continue to connect Olympic fans around the world and spread the Olympic spirit.”
Translated by O.C