MOSCOW, Dec 18 (GCSports) South Korea will have to spend some 3.9 trillion won ($3.4 billion) to cover its part of expenses for joint hosting of the 2032 Summer Olympics with North Korea, local media reported Tuesday, citing Seoul city government.
According to the Yonhap news agency, the expenditures will be much higher, as the budget plan does not include the costs on building infrastructure and some of the operating costs, particularly, of opening and closing ceremonies.
The Seoul government has submitted the budget plan to the Seoul Metropolitan Council. The vote on it is expected on Thursday.
In November, officials from both Koreas discussed a number of issues related to exchanges and cooperation in sports, specifically a joint bid to host the 2032 Summer Olympic Games, and the joint participation of athletes from both countries in the 2020 Summer Olympics and other international sports events.