July 29, 1997 in Social Responsibility News

SAMSUNG - JOC . NAOC Signs Contract to Sponsor the Nagano Winter Olympics as a Worldwide Olympic Partner

Tokyo, Japan - July 29, 1997 - Samsung, the biggest electronics company in Korea signed a contract with JOC(Japanese Olympic committee) and NAOC (The Organizing Committee for the XVIII Olympic Winter Games, Nagano 1998) to act as a Worldwide Olympic Partner in the category of wireless communications equipment for the Olympic Winter Games to be held in February 1998.

President and CEO, Jong-Yong Yun of Samsung Electronics Co., Secretary General, Yushiro Yagi of JOC(Japan Olympic Committee) and Director General, Makoto Kobayashi of NAOC signed a Worldwide Olympic Partnership contract for the '98 Winter Olympic Games, in the presence of Shunichiro Okano, member of the IOC. As a Worldwide Olympic Partner and active sponsor for the Nagano Olympic Winter Games, Samsung now has the right to conduct Olympic marketing activities related to the Olympics including advertising and promotions anywhere in the world, including Japan.

Only world-class companies with state-of-the-art products and technology can be designated as Worldwide Olympic Partners. There are a total of 11 product categories in which a Worldwide Partner may be designated, with only one for each category. Product Categories include wireless communications equipment, A/V (audio/video) equipment, information systems and devices, and soft drinks among others.

Samsung's participation as an Olympic Partner is significant in that it is the first company outside of the US and Japan to achieve this status. President and CEO, Jong-Yong Yun emphasized the auspiciousness of the occasion by describing Samsung's participation as a Worldwide Partner as an integral part of Samsung's effort to live up to its management philosophy, which is "devote human resources and technology to create superior products and services thereby contributing to a better society". He added that he expects this participation to be a great opportunity for Samsung to enhance its image in the Japanese market as at global high-tech company.

Wireless communications equipment, which is the category Samsung is sponsoring, is a worldwide business worth 150 billion dollars, and has great potential as it is expected to grow at a rate of 11 annually. Samsung is expected to achieve a synergistic effect in conducting marketing activities in this vital area as it combines its advanced CDMA technology, for which it is famous, with the rights of a Worldwide Partner.

On May 9, 1997, Samsung signed an initial contract in the area of wireless communications equipment with the IOC for The Olympic Partners (TOP IV) for the Nagano Olympic Winter Games and the 2000 Sydney Olympic Games. Now that a contract with the NAOC has been signed, Samsung has only to finalize the details with the SOCOG (Sydney Organising Committee for the Olympic Games), and the USOC (US Olympic Committee).

Before the signing ceremony between Samsung, JOC and NAOC, Samsung Electronics and NTT Group(NTT DoCoMo, NTT Personal), the Gold Sponsor for the Nagano Olympic Winter Games in the area of telecommunications, confirmed their commitment to mutual cooperation. Such a willingness to cooperate comes from the sincere attitude of the two companies, both of whom are putting their priorities on the success of the Olympic Games, a global festival, rather than their own individual interest.


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