Pyeongchang 2018 asks IOC and Korean Government for more funding

By Daniel Etchells

Pyeongchang 2018 are reportedly set to ask for more funding from the International Olympic Committee (IOC) and the South Korean Government with the budget ballooning the original target of KRW ₩2.2 trillion (£1.4 billion/$1.9 billion/€1.7 billion).

The Organising Committee wants another KRW ₩600 billion (£386 million/$518 million/€468 million) from the Government, according to South Korean newspaperChosun Ilbo.

The present budget is said to be based on the 2011 winning bid for the Winter Olympic and Paralympic Games and does not include added costs involving new disciplines and other variables.

“We have not made any decisions about the specific amount, but our new fiscal plan includes requests to the International Olympic Committee for more funding,” a Pyeongchang 2018 spokesman told Chosun Ilbo.

Last month, new Pyeongchang 2018 President Lee Hee-beom promised to organise a successful Winter Games, despite the financial, timing and leadership problems that have plagued preparations so far.

Lee, who replaced Korean Air boss Cho Yang-ho as head of the Organising Committee at the beginning of May, was speaking following a meeting with IOC Coordination Commission chair Gunilla Lindberg in Seoul.

He admitted that time is running out with less than two years until the Opening Ceremony but claimed they are resolving outstanding problems with venue construction.

The Pyeongchang 2018 Organising Committee is asking for another KRW ₩600 billion from the South Korean Government ©Getty Images
The Pyeongchang 2018 Organising Committee is asking for another KRW ₩600 billion from the South Korean Government ©Getty Images

Lee has also said increasing sponsorship revenue is a key goal ahead of the next Winter Olympic Games, which are scheduled to take place from February 9 to 25.

The Organising Committee’s aim is to reach 90 per cent of their sponsorship of KRW ₩870 billion (£560 million/$752 million/€678 million) target by the end of this year.

“Our goal to host the Olympics at minimum expense remains unchanged, but budget increases are not uncommon and will be focused on the construction of sports venues,” a senior official at South Korea’s Ministry of Culture, Sports and Tourism told Chosun Ilbo.

Cho stepped down to deal with financial issues at his Hanjin Shipping company.

He had only been in the job since July 2014 after the resignation of Kim Jin-sun, who left on the grounds that “new leadership was required to complete preparations for the Games”.

insidethegames has contacted the IOC for a comment on Pyeongchang 2018’s request for more funding and is awaiting a response.

Source: insidethegames.biz

평창올림픽 조직위 “정부, 6000억 더 달라”

강호철 기자 | 2016/06/29 03:00

평창동계올림픽 예산이 당초의 2조2000억원을 훨씬 넘어설 전망이다. 조직위는 28일 “지금의 대회 예산은 2011년 IOC(국제올림픽위원회)에 제출했던 비드파일(사전 계획 자료)에 담긴 내용으로, 이후 새로운 종목이 추가되는 등 많은 변수가 생겼다”면서 “소요 예산 증액이 불가피한 상황”이라고 했다. 조직위는 “7월 중 수립될 제4차 재정계획에 이를 반영할 예정”이라고 말했다. 조직위는 정부에 6000억원 규모 증액을 요구한 것으로 알려졌다.

조직위의 한 관계자는 “구체적인 사업비 증액 규모는 아직 결정된 바가 없다”며 “새로 마련할 재정 계획에는 IOC에 지원금 확대를 요구하는 방안도 포함돼 있다”고 밝혔다. 하지만 IOC가 지원금을 확대한다고 해도 눈덩이처럼 불어난 경기장 및 개폐회식장 건설비 등을 모두 충당하는 것은 사실상 불가능한 상황이다.

이와 관련, 문화체육관광부의 고위 관계자는 “최소한의 비용을 들여 경제 올림픽을 치르겠다는 정부 기본 입장에는 변화가 없다”고 했다. 이 관계자는 “과거 다른 대회 전례를 봐도 여러 변수에 의해 당초 예산보다 늘어날 수는 있다”며 “그렇다고 해도 경기장 건설 예산 등 불가피한 분야에 국한될 것”이라고 말했다.

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