South Korea's business associations will fully cooperate with the PyeongChang Olympics organizers to make the global sports event a success, the Korea Employers Federation said Thursday.

In a meeting with officials from the PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games, executives from the country's six major business lobby groups vowed they will sponsor promotional events for the winter sports games, buy tickets for their employees and provide other residential facilities, the KEF said in a statement.

Lee Hee-beom, who heads the organizing committee, said if the country successfully hosts the global event, it will "help the Korean economy make another leap forward and enhance the image of the country," the statement said. 

The six associations are the KEF, the Korea Chamber of Commerce and Industry, the Korea International Trade Association, the Federation of Korean Industries, the Korea Federation of SMEs and the Association of High Potential Enterprises of Korea.

The business leaders hoped the global event will play a role in generating jobs and promoting the tourism industry at a time when the country's economic growth remains weak, it said.

The Winter Olympic Games will be held in PyeongChang, 182 kilometers east of Seoul, from Feb. 9-25, with the Paralympic Winter Games scheduled at March 9-18. (Yonhap)