October 10, 2018 13:21
The Pyeongchang Winter Olympics ended with a US$55 million surplus, bucking an international trend that has left some host countries deeply in debt.
"We achieved a surplus of about $55 million. We were able to realize an economically feasible Olympics by minimizing costs and maximizing efficiency," said Lee Hee-bum, the chairman of the organizing committee, at an International Olympic Committee session in Buenos Aires, Argentina on Tuesday.
IOC President Thomas Bach hailed the Pyeongchang Olympics, saying they "were extremely successful in all respects" and pledged to use the IOC's 20 percent stake of the proceeds "for the benefit of sport in Korea."
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