A South and North Korean team in an international sporting event

The International Olympic Committee (IOC) and Samsung Electronics Co., Ltd. on April 23 announced the extension of their agreement through to the Summer Olympic Games in 2016.

The partnership between the IOC and Samsung, which began in 1997, was extended for a further eight years during a signing ceremony with IOC President Jacques Rogge, and Samsung's Chairman, Kun-hee Lee, in Beijing on April 23.

Samsung will continue to be the official Worldwide Olympic Partner in the Wireless Communication Equipment product category, and will have global marketing rights for the Beijing 2008, Vancouver 2010, London 2012 Games and the 2014 and 2016 Olympic Games, as well as the 203 individual National Olympic Committees and their Olympic teams.

IOC President Jacques Rogge welcomed Samsung's continued commitment to the Olympic Movement, The IOC is absolutely delighted to announce the extension of its partnership with Samsung. Their global reach, expertise and cutting edge wireless communications systems have proved essential over the last decade in the efficient staging of the Olympic Games. Samsung's long-term dedication to the Olympic Movement helps ensure the future of the Games, as well as promoting the Olympic values.?

Mr JongYong Yun, Senior Vice Chairman and Chief Executive Officer of Samsung Electronics Co., Ltd., said "Samsung is honoured to continue to support the Olympic Games for another eight years. We strongly believe that the sponsorship will not only enhance our brand image but also help promote our corporate values that celebrate peace, encourage friendly competition and promote unity among people of all cultures."