Hyundai, Kia Motors sign deal for 2018 Pyeongchang Olympics

SEOUL, South Korea (AP) South Korean automakers Hyundai Motor Co. and its affiliate Kia Motors have signed on as a domestic sponsor of the 2018 Winter Olympics in Pyeongchang.

Under the agreement, announced Thursday, Hyundai and Kia will provide 4,100 vehicles for VIPs, athletes transport and event operations as well as monetary sponsorship for the 2018 Olympic and Paralympic Games.

Cho Yang-ho, head of the Pyeongchang organizing committee says, ''we are confident that this sponsorship agreement will encourage other Korean companies to join as sponsors and continued support from the Korean business community will help us deliver the successful Olympic and Paralympic Winter Games.''

The 2018 Games are now backed by eight domestic sponsors, as well as the International Olympic Committee's 12 TOP Partners.