The Korea Football Association (KFA) says that the world's biggest maker of athletic products has agreed to provide the KFA 53-and-a-half million dollars in cash and goods over the next four years.

The KFA board met Tuesday to approve a sponsorship agreement with athletic wear giant Nike, making it the national soccer team's uniform sponsor.

Under the agreement, Nike will provide the association 27-point-two million dollars in cash, a 110 percent jump from the previous contract. It will also provide 26-point-two million dollars' worth of uniforms and other sports products from 2008 to 2011.

Nike has sponsored the Korean national soccer team for 16 years straight beginning in 1996.