South Korean Olympic organizers present budget for 2015
SEOUL, South Korea (AP) Organizers of the 2018 Pyeongchang Olympics have completed their 2015 budget for stadium construction and other preparations for the Winter Games without releasing figures.
The budget needs approval by the Ministry of Culture, Sports and Tourism. The Pyeongchang organizing committee Friday described the government approval as a formality. The government expects the Olympics to exceed $10 billion.
The IOC is trying to cut costs and suggested some events be moved to another city to avoid leaving Pyeongchang with venues of little use after the games. South Korea rejected the proposal, with construction of the main venues already begun. Pyeongchang is building six stadiums and plans to complete all of them by around October 2016.
Organizers also have ruled out sharing the Olympics with North Korea, but kept alive the prospect of a unified Korean team as a gesture of peace.
An IOC delegation will visit Pyeongchang next week to evaluate preparations.