KBO signs largest sponsorship

By Cho Mu-hyun

The Korea Baseball Organization (KBO) announced Tuesday that it has signed a title sponsorship contract with general food corporation Paldo.

“The amount is the largest ever in KBO history,” said a KBO associate over the phone with The Korea Times. The KBO did not disclose the figures for the deal but it is known to be around 10 percent larger than last year’s sponsorship with Lotte Card.

The sport’s top governing body received 5 billion won in funding for 2011.

“We expect a synergy effect that will help us reach 7 million spectators this year,” he added.

“I am honored to take the title sponsorship of a major sport in professional baseball,” said Paldo President Choi Jae-moon. “I want to provide customers with a different enjoyment, and back professional baseball in reaching 7 million spectators.”

This is the first time professional baseball has formalized a sponsorship contract with a food company instead of a large conglomerate since title sponsorships began in 2000. Samsung PAVV was the title sponsor from 2000 to 2009 and CJ Group in 2010.

The KBO and Paldo are planning to reveal the name of the sponsorship deal and emblems at a signing ceremony schedule for March 12.

Paldo, founded in 1983, is known for its variety of instant noodle brands, the most famous being the recent hit Koko noodles, released last year in collaboration with comedian Lee Kyung-kyu and sold 100 million within 168 days of their release.

The corporation is also running a student aid foundation owing to the huge success of their recent brand.

The KBO is in talks with three to four minor sponsors besides Paldo for additional funding of around two billion won. The organization expects the overall funding for this season to exceed seven billion won.

The 2012 baseball season is scheduled to commence on April 7 and end in October.