#PyeongChang2018
Buenos Aires, October 08 – The Organizing Committee for the Olympic Winter Games PyeongChang 2018 (POCOG) has announced a surplus of at least 55 million US dollars (61.9 billion Korean Won) while presenting its final report at the 133rd IOC Session in Buenos Aires, Argentina.
PyeongChang 2018 achieved a total revenue of 2.245 billion US dollars with an expenditure of 2.190 billion, leaving POCOG with a profit of at least 55 million dollars. This remarkable achievement is a result of the support from the IOC, aligned with the implementation of the Olympic Agenda 2020, and Korean government and combined efforts to increase the revenue by engaging more sponsors and donors. The surplus will be used for sports development and other related activities in Korea as a legacy of PyeongChang 2018.
After POCOG’s presentation of PyeongChang 2018 final report at the IOC Session, Thomas BACH, President of the International Olympic Committee said, "We congratulate the Organising Committee of the Olympic Winter Games PyeongChang 2018 for the organisation of outstanding Olympic Winter Games, which were extremely successful in all respects. In recognition of these great achievements, the IOC will contribute its share of the surplus for the benefit of sport in Korea."
In terms of venue legacy plans, in principle, all 12 competition venues will be used for sport purposes. For venues that have not finalized its legacy plans, the central government and Gangwon Province are in discussion to set the ratio of operation and management cost. Organizers and International Federations are also examining ways to utilize the facilities as training venues for Beijing 2022.
LEE Hee-beom, President of the PyeongChang 2018 Organizing Committee said, "We are happy that PyeongChang 2018 was able to achieve a 55 million dollar surplus, which far exceeds our target budget.
"It is a great honor to be a part of an Olympic Winter Games that will not only be remembered as an economic success, but also a historical sporting event that brought the two Koreas together and contributed to world peace."
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About POCOG
The PyeongChang Organizing Committee for the Olympic and Paralympic Winter Games (POCOG) hosted the XXIII edition of the Olympic Winter Games on 9-25 February 2018. Approximately 90 countries and 3,000 athletes took part in the first Olympic Winter Games held in Asia in 20 years.
The PyeongChang 2018 Paralympic Winter Games took place on 9-18 March 2018, with approximately 50 countries and 670 athletes competing. Six sports were on the Paralympic program.
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문화홍보미디어부
The PyeongChang Organizing Committee for the 2018 Olympic and Paralympic Winter Games
2018 평창동계올림픽대회 및 동계패럴림픽대회 조직위원회
Office +82.33.350.4346 Fax +82.33.350.2118
Address 108-27, Olympic-ro, Daegwanryeong-myeon, PyeongChang-gun, Gangwon-do, 25347, Korea.
Email 2018press@naver.com
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