PyeongChang 2018: President Cho making sponsorships a top priority for the Games

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On his first week at the helm of the PyeongChang 2018 Winter Games, President Yang-ho Cho has focused a lot of his attention on strategies for gaining sponsorship for the Olympics. In a statement released today he confirms that it is foremost on his agenda.

The statement also notes that Cho is concerned that only 30% of the targeted budget of 90 billion won (approximately $88 million dollars) has been raised. He is now fine tuning programs to attract not only domestic corporations but worldwide businesses as well and striving to demonstrate the benefits of sponsoring the 2018 Winter Games.

His advice to executives is to view the Games not just as a sporting event but as the business opportunity that it offers and that it represents big business for Korea. He is also looking for a return on investment and wants to develop marketing plans that will help the organizing committee achieve its goals.

The new President has also been meeting with staff for two hours daily starting from seven in the morning since his election as noted in the Korean daily newspaper Han Kook Ilbo. As reported earlier too he took a tour of the venues in the host city by helicopter to see in person the locations and to get updates on the current plans.

According to the statement Cho is working to harmonize the diversity of the organizing committee with representatives from all walks of life with divergent points of view. By applying his experience as the president of the bidding committee and the head of Korean Air, Cho is trying to establish a harmony that will allow the organizing committee to function at its fullest capacity.

Han Kook Ilbo has referred to Cho’s leadership style to a famed Korean naval commander Admiral Yi Sun Shin who gained notoriety for defeating 333 Japanese ships with only 13 ships in the Imjin war. As the CEO of one of the world’s top 20 airlines he is now looking at using the same strategy that he used to run the airlines on the organizing committee.

Laura Walden, Sports Features Communications

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