The nation's flagship carrier Korean Air became an official sponsor of the 2018 Olympic and Paralympic Winter Games in PyeongChang, according to company officials Wednesday.
The ceremony took place at Lakai Sandpine Resort in Gangneung, Gangwon Province.
The official partnership entails that Korean Air will provide passenger flights for the organising committee and national athletes, and freight services necessary for smooth operation of the sporting events.
In exchange, Korean Air will have rights to the use of intellectual property, exclusive service contracts, and the use of PyeongChang's official logo in its marketing.
Cho Yang-ho, head of the PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games and the chairman of Korean Air's parent conglomerate Hanjin Group, said that Korean Air's partnership will stimulate increased participation through additional sponsors in Korea.
Korean Air is the fifth domestic corporate sponsor to back the 2018 PyeongChang Olympic Winter Games.