Pyeongchang 2018 concluded yesterday (Sunday) and POCOG president Lee Hee-beom said the Games has broken the unwritten rule that major sporting events tend to end with high levels of debt.
Lee highlighted the development of the bullet train line from Seoul to Gangwon Province as allowing for a sharp increase in the number of visitors, therefore having a financial impact. POCOG also outperformed from a sponsorship perspective, generating 1.1 trillion won against the projected 940 billion won.
“We have 30 billion won of reserve funds, which we still haven't used even half of,” Lee added. “On top of that, sales from souvenirs also remained strong. In the first 10 days of the Olympics, the sales from the Super Stores were 30 billion won. There's no reason for the Pyeongchang winter Olympics to close in debt.”
POCOG yesterday delivered a Games wrap-up report to the IOC Session. On the subject of legacy, Lee told the Session that nine of the 12 Games venues already have legacies in place as multipurpose sports or leisure and tourism facilities. For the three outstanding venues – Jeongseon Alpine Centre, Gangneung Hockey Centre and Gangneung Oval – Lee said talks are in progress and are expected to be finalised soon with the Korean government and Gangwon Province.
IOC Coordination Commission chair Gunilla Lindberg said: “Under your leadership, president Lee, the Organising Committee and its partners have certainly delivered on your promises, providing every one of us with a unique and memorable experience.”