The local bank will provide a variety of financial services for athletes, organisers and fans throughout the Universiade, including the management of Games funds, money exchange and receipts of participation fees.

In return the bank, which is based in the South Korean city, will be given the rights to use the Gwangju 2015 logo, mascot, and the title as the official sponsor of the Gwangju Universiade on various promotional materials.

The signing ceremony was held at the Gwangju City Hall with attendees including Yoon Jang-hyun, chairman of Gwangju 2015 and Mayor of Gwangju city, Kim Jang-hak, President and chief executive of Kwangju Bank, and Kim Yoon-suk, secretary general of Gwangju 2015.

"It is very reassuring that the representative bank in our area, the Kwangju Bank, has become the official sponsor for the Gwangju Universiade," said Yoon.

"We hope to cooperate together for the successful hosting of the Games."

Kim Jang-hak added: "We will provide the best financial services for the participants coming from more than 170 countries."

He also expressed his anticipation for the games and said, "I expect that we have the opportunity to leap over boundaries and become a global bank through the Gwangju Universiade."

This announcement comes as Gwangju 2015 organisers launch test events for five of the 21 sports on show at the Universiade.

These test events were kick-started with international university volleyball competition yesterday with the events set to take place across seven of the venues that will be used during the Games.

Volleyball will be followed by judo, while football, baseball and handball competitions are all scheduled over the next month.

The events will provide organisers the opportunity to test out the operational skills of the staff, equipment supplies at the competition venues, award ceremonies, medical facilities and other minor issues that may become apparent with a host of athletes using the facilities.

Organisers are expecting to see around 89 teams and 1,700 athletes participate in the test events with further sports scheduled for early next year.

"By applying the Venue Operation Plans that have been drawn up for the 27 areas needed in games operations, including transportation, medical treatment, and security, we will detect all problems and improvements needed so the actual Games can run successfully," Yoon-suk, said.

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