16 companies agree to open new stores if the city wins Games bid
A group of Korean retailers vowed to back PyeongChang’s bid to host the 2018 Winter Olympics and signed a memorandum of understanding with the bid committee on Tuesday.
Sixteen companies, including Lotte Group, which operates chains of Lotte Department Store, Lotte Mart and Lotte Super and retail giant GS Group, have agreed to open new stores in PyeongChang if the city wins the bid for the 2018 Winter Games.
Other companies signing the agreement included the Shilla Hotel, Hyatt Incheon, SPC’s Paris Baguette and Caffe Pascucci. Performance groups including “Nanta” and “Jump,” and theaters such as Sejong Center for Performing Arts and Seoul Arts Center also signed to back the bid committee.
The agreement, named the “Best of Korea” program, will see many of Korea’s best-known entertainment and hospitality names ― including restaurants, shops, cultural attractions, and museums ― established in PyeongChang for the duration of the Winter Games, the bid committee said.
The signing marks a significant point for PyeongChang’s campaign as it gears up for the International Olympic Committee’s on-site inspection next week.
(From left) Yoon Il-jung, of GS Retail’s CVS division, Shin Hee-ho, CEO of Amoje, So Jin-sei, president of Lotte Super, Cho Yang-ho, chairman and CEO of 2018 PyeongChang Olympic Bid Committee, Kim Jang-sil, president of Seoul Arts Center, Park Dong-ho, CEO of Sejong Center for Performing Arts and Jung Kyu-ha, president of Rhythm & Theater, after signing the “Best of Korea” MOU to cooperate for PyeongChang’s bid to host the 2018 Winter Olympics on Tuesday at the Press Center in Seoul. (Yonhap News)
PyeongChang, the popular winter sports resort city in Gangwon Province, is competing against Munich of Germany and the French town of Annecy for the right to host the 2018 Games.
The IOC Evaluation Commission will be inspecting PyeongChang’s bid from Feb. 14-19. The final decision will be made by secret ballot by IOC members on July 6 in Durban, South Africa.
“The agreement will offer everyone visiting Korea for the Winter Games the magic and intimacy of the mountains combined with the best cultural and entertainment experiences ― the best of both worlds ― all within the special Olympic Winter Games city,” said Cho Yang-ho, CEO of PyeongChang’s bid committee.
“We now look forward to sharing our vision for the 2018 Winter Games and our plans for ‘Best of Korea’ to the International Olympic Committee when the Evaluation Commission visits PyeongChang next week.”
By Oh Kyu-wook (firstname.lastname@example.org