Jointly hosting the Olympic Games with North Korea, South Korea has settled its accounts: more than 20 billion yuan will be spent

 Jointly hosting the Olympic Games with North Korea, South Korea has settled its accounts: more than 20 billion yuan will be spent

Overseas Network, Dec. 18 - Seoul, South Korea is actively promoting the bid with Pyongyang for the 2032 Summer Olympic Games. As we all know, hosting the Olympic Games is a huge project, so how much will it cost? Seoul recently submitted a bill to parliament, giving the answer.

At the Pingchang Winter Olympic Games, the Korean cheerleaders holding the unified flag. (News1)

According to Yonhap News Agency reported on the 18th, 2032 Seoul-Pyongyang Olympic Games Joint Bidding Motion shows that in July and August 2032, the 15-day Olympic Games covering 33 events are planned to be held in Seoul and Pyongyang and other cities. The budget of the ROK alone is 3857 trillion won, which translates into RMB 23.76 billion yuan.

It should be noted that this is only the cost of the opening and closing ceremonies, the construction and maintenance of the venues and the operation of the events. The cost of the construction of infrastructure such as roads and railways is not included.

In September this year, the DPRK and the ROK agreed to jointly host the Olympic Games. (Yonhap)

Seoul said it would make the best use of existing facilities in Seoul and Pyongyang to host an economic Olympics.

At present, Pyongyangs Olympic budget is not clear, but Yonhap pointed out that it is expected to be a large expenditure.

Korean Performance at the Opening Ceremony of the Pingchang Winter Olympics (Jingxiang News)

Reported that the total bid budget for the Winter Olympic Games in Pingchang, South Korea is 14 trillion won (about 85.4 billion yuan), of which up to 12 trillion won is invested in the construction of railways, venues and other aspects.

In addition, the budget for the 2020 Tokyo Olympic Games is 13.4 trillion won, but the actual expenditure may be as high as 29.8 trillion won (about 181.4 billion yuan).

The bill also shows that Seoul plans to use advanced technologies such as 5G to synchronize the opening and closing ceremonies with Pyongyang.

At the Pingchang Winter Olympics, Wen and his wife watched the match with senior North Korean officials. (Yonhap)

On September 19 this year, North Korean Supreme Leader Kim Jong-un held talks with South Korean President Wen Zaiyin in Pyongyang and agreed to work together to bid for the 2032 Summer Olympic Games. Since then, the DPRK and the ROK have agreed to send a letter to the IOC members in February next year to show their willingness to jointly bid for the Olympic Games.

According to the assumption of IOC, the right to host the 2032 Summer Olympic Games will be decided in 2025. At present, Germany, India, Australia and other countries are interested in bidding.

Source: Overseas Network Responsible Editor: Li Hang_BJS4645