The KFA had a busy 2019 in the commercial market, negotiating ten deals over the course of the year, which Chosun Ilbo reports increased in value by 15 per cent on average.
United States sportswear giant Nike remains the KFA’s most lucrative partner. The two have been working together since 1996, with a new 12-year deal seeing this partnership through to 2032. They also agreed on a clause that has the soccer body take a portion of earnings if sales of KFA-related products on Nike’s Korean retail website exceed a certain level – which means bonuses could be had once targets are surpassed.
The KFA’s other partners include Lotte Liquor until 2021; KEB Hana Bank, insurance company Kyobo Life and video game publisher Nexon through to 2022; Coca-Cola, Hyundai, Asiana Airlines and telecommunications brand KT up to 2023; and Shinsegae E-Mart rounding it off in 2024.
In addition, the KFA is reportedly interested in securing new media company sponsors after failing to reach a deal with former partner Naver, the search engine platform.
On the pitch, South Korea’s biggest soccer triumph in recent years saw the men’s team capture gold at the Asian Games in 2018, beating Japan 2-1 in Cibinong, Indonesia.