September 10, 2000 in Social Responsibility News

SAMSUNG Electronics Renews Its Olympic Sponsorship Agreement for Salt Lake 2002 and Athens 2004

10:00am, Sunday 10 September #Sydney Olympic Park, Australia
Samsung Electronics Co., Ltd. renewed its Olympic sponsorship agreement as Worldwide Partner in the Wireless Communications Equipment category for another two Olympiads #Salt Lake City Winter Games in 2002 and the Athens Summer Games in 2004.

According to Vice Chairman and CEO Mr Jong-Yong Yun, Samsung# decision to renew its sponsorship is based on the successful partnership that has been forged between Samsung and the Olympic Movement.

The association with the Olympic brand has resulted in direct business benefits for Samsung. For example, Olympic promotions have led to in some markets like the US to a 311% increase in sales of Samsung mobile phones.

Samsung has demonstrated its ability to assist in the success of the Sydney 2000 Olympic Games through its leading edge telecommunications equipment, and in return the Olympic Games has provided a global platform to leverage the Company# key business strategies for the 21st century.

Currently the fourth largest producer of mobile phones in the world, Samsung# goal is to grow its telecommunications brand to become one of the top three brands by 2001.
Mr Yun explained #he Olympic tradition has transcended political and social conflicts and is still embraced by the world# nations as a forum that reflects a brighter youthful future. Its immeasurable value lies in its ability to transcend cultures, race, religion and gender and bring together people in peaceful competition. We are proud to be able to continue our commitment#

The agreement was signed following the official opening of the Olympic Rendezvous @ Samsung in Sydney Olympic Park #the centerpiece of Samsung# US$200 million global marketing campaign.

The signing of the agreement was between President of the International Olympic Committee (IOC) Mr Juan Antonio Samaranch, First Vice President of the IOC Mr Dick Pound, CEO of the US Olympic Committee Mr Norman Blake and Vice Chairman and CEO of Samsung Electronics, Mr Jong-Yong-Yun. Samsung first became a Worldwide Olympic Partner in 1997.

About Samsung Electronics
Samsung Electronics Co., Ltd., with 1999 sales revenue of US$22.8 billion, is a world leader in the electronics industry. The Korea-based firm has operations in about 50 countries with 54,000 employees worldwide. The company consists of three main business units: Digital Media System, Semiconductors, and Information & Communications Businesses.

Media Contact: Samsung Media Centre, Sydney Olympic Park (612) 8119 5276-78

People in the picture from the left: Dick Pound, First Vice Pesident of the IOC; Lee Kun-Hee, Chairman of Samsung; Juan Antonio Samaranch, IOC President; Yun Jong-Yong, Vice Chairman and CEO of Samsung Electronics Co., Ltd.

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