September 14 - Pyeongchang 2018 have received a donation of 800 million won ($690,000/£445,000) from LG Corporation, whose former chief executive Jung Byung-chul earlier this week became vice-chairman of the bid to host the Olympics and Paralympics.


LG executive vice-president Sang-kook Chung, said: "Hosting the 2018 Winter Games in Pyeongchang is the wish of all Koreans and LG Corporation is happy to be adding its share to the bid efforts."

LG Corporation is the second largest conglomerate in South Koreabehind Samsung, the major backers of Pyeongchang's campaign, the third time they have bid for the Games following narrow failures to be awarded 2010 and 2014, which were given to Vancouver and Sochi respectively.

The company produces electronics, chemicals, and telecommunications products and operates subsidiaries like LG Electronics, LG Display, LG Telecom and LG Chem in over 80 countries.

Yang Ho Cho, the chairman and chief executive of Pyeongchang 2018, said: "We thank LG Corp. for their support to promote and further strengthen Pyeongchang’s bid. 

"With less than 300 days to go until the IOC (International Olympic Committee) decision in Durban, we are confident we will receive more support going forward. 

"And we promise to work very hard throughout our campaign to host the Winter Games in 2018."

The IOC will choose the host city for 2018 at its Session in Durban on July 6, 2011, where Pyeongchang's rivals will be Annecy and Munich.


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