By Kim Hyun-bin

The 2022 Beijing Winter Olympics is set to begin Friday, but unlike previous Olympic events that tend to be hyped up with excessive marketing for all sorts of retail products, all commercial promotion seems to have disappeared this time, according to retail industry observers Thursday.

Department stores and other retailers usually launch special marketing campaigns in time for the Olympics but that has been limited this time around, they said.

An Olympic sculpture installed near Beijing National Stadium, Wednesday, two days before the opening of the 2022 Beijing Winter Olympics. Yonhap

Company officials explain the interest in winter sports has decreased as a result of public disappointment with scandals in short track speed skating, as well as the retirement of star athletes such as figure skater Kim Yuna and speed skaters Lee Sang-hwa and Mo Tae-beom.

Some believe that people's interest in the Olympics is low due to the economic downturn due to the pandemic and the upcoming presidential election which seems to have grabbed all the attention.

Also the rising anti-China sentiment among the younger generations could have played a role in the low interest for the Olympic Games. As the 2020 Tokyo Olympics were postponed until last year, the shortened wait between Olympics also seems to have had an impact, while the World Cup is also scheduled to be held this summer.

Lotte Group, which operates Korea's largest retail business in sales, held an internal review on whether to engage in Olympic marketing, but it has been said to have decided not to proceed this year. Lotte Chairman Shin Dong-bin supported skiers while serving as president of the Korea Ski Association from 2014 to 2018.

"We engaged in marketing activities during the PyeongChang Winter Olympics as it was held locally, but we are not taking part in the promotions for the Beijing Olympics," a Lotte official said. "There are only small promotions going on in the home shopping and retail departments."

Emart is almost the only Korean company to engage in Olympic marketing, just like it had done with previous events.

"We are offering discounts for the Olympics such as on TVs and meals that can be enjoyed while watching the Games," an Emart official said. "We are a distribution company so we do not have a big budget for the Olympics although it is similar to previous events."