Hyundai Motor Group, South Korea's largest automaker, said Wednesday that it has signed an agreement to extend its sponsorship of the FIFA World Cup until 2022 when South Korea wishes to host the quadrennial event.
Hyundai Motor Group, also the world's No. 5 automaker, is already an official sponsor for the 2014 World Cup to be held in Brazil.
"Since the company first established its relations with FIFA in 1999, it has provided top-quality vehicles to three World Cups and all other events hosted by FIFA to help make them the best events possible," said group chairman Chung Mong-koo, an older brother of FIFA vice president Chung Mong-joon.
South Korea and Japan co-hosted the 2002 World Cup tournament, and Seoul is now bidding to host the 2022 event to become the first Asian nation to
unilaterally host the World Cup.
"The company hopes its extension of sponsorship for FIFA will have a positive effect on the country's bid to host the 2022 World Cup," a company executive said, asking not to be identified.
Hyundai Motor Group is increasingly looking to sports events to increase its international exposure. The company signed an agreement with the Union of European Football Associations (UEFA) earlier this year to sponsor the organization's European Football Championship in 2012 and 2016.