Pyeongchang 2018 has bolstered its sponsorship portfolio by signing agreements with international networking giant Huawei and software provider Duzon Bizon ©Pyeongchang 2018

Pyeongchang 2018 has bolstered its sponsorship portfolio by signing agreements with international networking giant Huawei and software provider Duzon Bizon.

Chinese company Huawei have joined as the official supplier for network equipment, while South Korean-based Duzon Bizon will be an "official budget management software supporter" of the 2018 Winter Olympic and Paralympic Games.

Duzon Bizon, established in 1991, will be tasked with helping the Organising Committee with budget management, cost accounting and operational staff management.

Pyeongchang 2018 had reportedly asked the International Olympic Committee (IOC) and the South Korean Government for increased funding amid concerns of a ballooning budget in June of this year.

They have not yet released the budget for 2017 as it has not been finalised with local Governments.

"We deeply appreciate Duzon’s decision to support the Games," Pyeongchang 2018 marketing director general Chanwang Eom said.

"We are confident that the Pyeongchang 2018 preparations will be improved through the support of Duzon."

Duzon Bizon are to help Pyeongchang 2018 with budget management, cost accounting and operational staff management after signing a deal to become the
Duzon Bizon are to help Pyeongchang 2018 with budget management, cost accounting and operational staff management after signing a deal to become the "official budget management software supporter" ©Pyeongchang 2018

Duzon Bizon managing director Jae Ku Yoon said the company were "delighted" to be partnering with Pyeongchang 2018 and stressed they would "do our very best to support the 2018 Winter Olympic Games by providing the optimised and customised budget management software that they require".

Huawei will provide networking equipment and relevant services to Pyeongchang 2018 of the first-ever Winter Olympics and Paralympics to be held in South Korea.

They claim all of the network development projects will be completed by the end of September 2017, "to provide efficient networking services from February 9 to the end of March during the Pyeongchang 2018 Games".

More than 30 representatives from Pyeongchang 2018 and Huawei were in attendance at the signing ceremony in Seoul.

"We are excited that Huawei is bringing its innovative technology and excellent services to Pyeongchang 2018," Pyeongchang 2018 President Lee Hee-beom said.

"With the support of Huawei, we are confident to provide cutting-edge network for all participants during the Games."

Increasing sponsorship revenue was set out as a key target by Lee when he took over as Pyeongchang 2018 President in May following the shock resignation of Cho Yang-ho.

A lack of domestic sponsors was a major concern for Pyeongchang 2018 but the situation improved under Cho's leadership, thanks to deals with Korean Air, Samsung, Hyundai and SK Group as Tier One partners.