Olympic Medalists to Reap Huge Cash Bonuses

      February 26, 2014 13:35

      Park Seung-hi /News 1

      Korean medalists will be given huge bonuses for their performance in the recently-ended the Sochi 2014 Winter Olympics.

      Short track skater Park Seung-hi will be given bonuses of over W300 million for winning two gold and one bronze medal (US$1=W1,074).

      She is to receive a lump sum of W102.5 million, besides a lifelong monthly pension of W1 million from the government, having already racked up points in international events like the 2010 Winter Olympics in Vancouver. Additionally, she will get prize money from several organizations including the Korean Olympic Committee and the Korea Skating Union.

      Park's bonus from the Korean Olympic Committee stands at around W123 million. The committee promised cash incentives to medalists at a similar level to the 2012 Olympics in London -- W60 million for gold medalists, W30 million for silver medalists, and W18 million for bronze medalists in individual sport disciplines; and W45 million for gold, W22.5 million for silver, and W15 million for bronze in team competitions.

      Samsung Chief Lee Kun-hee, who sits on the International Olympic Committee, promised a W60 million reward, while S-Oil plans to give prize money of W20 million to each gold medalist. When a bonus from the Korea Skating Union is included, Park tops the money list among Korean athletes who participated in the latest Games.

      Shim Suk-hee, a gold medalist in the women's 3,000-m short track relay, will get a bonus of over W150 million, a monthly pension and other rewards including W93 million from the Korean Olympic Committee.

      Speed skater Lee Sang-hwa, who defended her Olympic title in the women's 500-m event in Sochi, will collect at least W185 million.

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