The company, established in 1999 and which operates South Korea’s largest internet search engine, have become the Official Internet Portal Sponsor of the Games.

As a result of the partnership, they will support the Games through its various resources including the search engine, Naver.com, which will carry advertising for the 2018 Winter Olympics and Paralympics.

In return, Pyeongchang 2018 will grant them various marketing rights, including the use of the intellectual properties and a place on the marketing partner recognition programme.

Naver have been placed in the second tier of Pyeongchang 2018’s domestic sponsorship scheme, below the Official Partners.

The partnership was officially signed at the Organising Committee’s headquarters in South Korean capital Seoul, attended by Pyeongchang 2018 President Cho Yang-ho and Naver chief executive Sanghun Kim.

“Engaging the participation and boosting the passion of the Korean public will be a key factor in determining success of the Olympic Winter Games Pyeonghang 2018,” said Cho.

“Games information can be distributed more accurately and quickly with the support of Naver, and help us draw more public attention.”

The deal marks the newest addition to Pyeongchang 2018’s sponsorship portfolio after S-OIL Corporation became a domestic sponsor earlier this month.

Pyeongchang 2018 also penned a domestic sponsorship agreement with multinational retail conglomerate Lotte Group during the visit of the International Olympic Committee (IOC) Coordination Commission.

Cho was hoping the partnership with Lotte will persuade other leading South Korean companies to throw their support behind the Games by getting behind the event.

The lack of sponsorship of the Games was previously highlighted as a key concern of the IOC.

“Based on our know-how accumulated from servicing the various sporting events, Naver will give full support using all resources to make the Pyeongchang 2018 Games a magnificent success,” Sanghun said.