Seoul, South Korea • It may have taken some time, but the 2018 Winter Olympics finally have their first domestic sponsor.
The Pyeongchang Organizing Committee said Tuesday that South Korean telecom giant KT Corp. has agreed to become the Games' first Korean partner.
The announcement follows months of concerns that Pyeongchang had yet to secure a domestic sponsor, nearly three years after being awarded the 2018 Olympics.
KT will provide telecommunications services for the Games, including wireless communications and broadcasting facilities. The company is South Korea's largest fixed-line telecom service provider and the second-largest mobile service operator.
IOC President Thomas Bach, who is scheduled to hold a press conference Wednesday in the host city, attended the signing ceremony in Seoul.