Quoting an unnamed Olympic source, Yonhap, the host news agency for Pyeongchang 2018, reported a deal had been struck and would be officially presented at a ceremony in Seoul next Tuesday (April 18).

The news represents a boost to the Organising Committee, who had struggled to secure a sponsor from the financial sector following the corruption scandal which has engulfed the country in recent months.

Pyeongchang 2018 were forced to postpone the announcement of a main banking partner as a result, while the start of ticket sales was pushed back to February from last October.

It has been reported that KEB Hana Bank, established in 1971 and whose headquarters are in Seoul, will offer ₩11 billion (£7.7 million/$9.6 million/€9.1 million) in sponsorships.

This figure is below the ₩15 billion (£10.5 million/$13.1 million/€12.4 million) sum Pyeongchang 2018 had hoped for, however.

According to Yonhap, the company were chosen in front of two other interested parties in an open bidding process.

KEB Hana Bank will be tasked with overseeing transactions surrounding the first-ever Winter Olympics and Paralympics to be held in South Korea, including ticket sales.

The news comes after two companies recently signed on as official supporters of the event.

Pyeongchang 2018 penned an agreement with Noodle Lovers before rice company Cheorwon Odae-ssal also became a partner of next year's Games.

Cheorwon Odae-ssal were attributed to the "packaged raw rice" category, while Noodle Lovers were placed in the "packaged pasta/noodles and noodle sauce" category.

Pyeongchang 2018 President Lee Hee-beom said following the recent visit of the International Olympic Committee Coordination Commission that they were hoping to receive more support from sponsors and from the Korean National Assembly.