South Korea to Spend $780 Million on PyeongChang Preparations

95
CHB

The sports ministry said that South Korea plans to spend 937.2 billion won (US$779.7 million) this year in support for the 2018 PyeongChang Winter Olympic and Paralympic Games preparations.

The Ministry of Culture, Sports and Tourism said its 2017 budget for the Olympic preparations is down 49.4 percent from 2016, due largely to a decrease in costs of facility construction that has entered the final stretch.

The ministry said 731.1 billion won has been earmarked for construction, a 55.1 percent decrease from last year’s 1.6 trillion won.

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