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Hyundai builds brand with extended World Cup sponsorship

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Hyundai builds brand with extended World Cup sponsorship

Sponsoring the World Cup has helped Hyundai raise its brand value. The automaker is ranked 65 in the 100 best global brands by the brand consultancy Interbrand.

David Jolley

Automotive News Europe -- December 8, 2010 06:01 CET

Hyundai Motor Co. has extended its sponsorship deal with the world soccer governing body FIFA to include the 2018 and 2022 World Cup championships in Russia and Qatar.

The automaker extended the contract eight years from 2014, when the automaker is due to be the official automotive partner at the Brazil championship. Hyundai has been a sponsor of the World Cup since 2002.

“Since our first association with FIFA in 1999, our commitment and support for FIFA has been unrivaled,” said Mong-Koo Chung, Hyundai CEO, in a statement. “FIFA has always set a benchmark for us, pushing our brand value and exposure to the highest levels,'' he added.

The extension will entitle Hyundai to gain sponsorship rights to all FIFA competitions, exclusive marketing opportunities, extensive global media exposure and affiliation with FIFA's special events and development initiatives.

According to the Interbrand consultancy, Hyundai has raised its brand value by 9.3 percent in the last year, putting it just behind Volkswagen AG's Audi at No. 8 in the consultancy's automaker listing, ahead of Porsche AG.

The automaker has been very successful in building its brand in major auto markets such as the United States and China and in emerging markets, due in part to aggressive marketing actions, Interbrand said.

In the U.S., Hyundai has created a strong brand value with its sponsorship of the NFL Super Bowl, the Academy Awards and the opening round of the PGA golf tournament in Hawaii.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20101208/ANE/101209865/1198#ixzz17Wi0ejgj

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