Cheorwon Odae-ssal have been attributed to the "packaged raw rice" category and become an official supporter of Pyeongchang 2018.

The company will provide financial support to Pyeongchang 2018 to assist with their preparations for the Games.

They will also have marketing rights for the event.

Pyeongchang 2018 vice-president of Games planning Kim Ki-hong welcomed the company to their sponsorship programme for the event, due to run from February 9 to 25.

"Cheorwon Odae-ssal are a welcome addition to our growing list of local partners and we thank them for their support of Pyeongchang 2018 and look forward to working with them in the coming year," said Kim. 

"We hope that all the local partners will get their staff and customers behind the Games and help us raise awareness and encourage everyone to come and experience the Olympic and Paralympic Winter Games for themselves."

Pyeongchang 2018 claim the company is one of the most popular brands of rice in South Korea and is manufactured in a "beautiful natural area".

Organisers have yet to agree a deal with a South Korean bank.

Pyeongchang 2018 President Lee Hee-beom said following the recent visit of the International Olympic Committee Coordination Commission that they were hoping to receive more support from sponsors and from the Korean National Assembly.

The budget for the event was one of the main topics on the agenda.

Pyeongchang 2018 have stressed they are targeting a "balanced budget" despite a lingering deficit of ₩300 billion (£215 million/$262 million/€247 million).

Reducing this burden has been cited as one key priority for organisers with 11 months to go until the Opening Ceremony of the Olympic Games.

The budget announced by Pyeongchang 2018 last year had increased by ₩600 billion (£386 million/$518 million/€468 million) from the original projection of ₩2.2 trillion (£1.4 billion/$1.9 billion/€1.7 million).