▲ Former President Moon Jae-in and North Korean leader Kim Jong-un pose for a commemorative photo after signing the Pyongyang Joint Declaration on September 19, 2018 at Paekhwawon Guest House in Pyongyang. / Chosun Ilbo DB
According to a proposal submitted by the city of Seoul to the International Olympic Committee (IOC) to host the 2032 Summer Olympics between Seoul and Pyongyang, North Korea needs a budget of over 20 trillion won (about 2 trillion yen) to build infrastructure I found that I was doing a test calculation.
According to a summary of the “Basic Plan for Joint Seoul-Pyongyang Hosting of the 2032 Summer Olympics” obtained by Bae Hyun-jin, member of the National Assembly Committee for Culture, Sports and Tourism and member of the party to the people’s power government, Seoul is necessary for the development of infrastructure.
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▲ Former President Moon Jae-in and North Korean leader Kim Jong-un pose for a commemorative photo after signing the Pyongyang Joint Declaration on September 19, 2018 at Paekhwawon Guest House in Pyongyang. / Chosun Ilbo DB
According to a proposal submitted by the city of Seoul to the International Olympic Committee (IOC) to host the 2032 Summer Olympics between Seoul and Pyongyang, North Korea needs a budget of over 20 trillion won (about 2 trillion yen) to build infrastructure I found that I was doing a test calculation.
According to a summary of the “Basic Plan to Attract Joint Hosting of the 2032 Summer Olympics in Seoul and Pyongyang”, obtained by Bae Hyun-jin, a member of the National Assembly Culture, Sports and Tourism Committee, who is a member of the power of the ruling party’s people, Seoul is required to pay for infrastructure development. A total of 28.554 trillion won (2.8776 trillion yen) has been estimated. 5.9925 trillion won (about 603.9 billion yen) for infrastructure development in South Korea and 22.6615 trillion won (about 2.2838 trillion yen) for infrastructure development in North Korea.
The main cost split is 12.1 trillion won (about 1.22 trillion yen) for the high-speed rail between Seoul and Pyongyang, 8.272 trillion won (about 833.6 billion yen) for the expressway in the same section and 1 trillion won for the transmission line. It was 210 billion won (about 122 billion yen). The development of dedicated communications networks such as 5G is also estimated at 2.352 trillion won (about 237 billion yen). This includes the cost of building an “Olympic Village” in the Mudanbong area, two kilometers from Pyongyang’s Ayarado Stadium.
The city of Seoul has estimated that the event would cost 3,857 trillion won (about 388.7 billion yen) in South Korea and 1,723 trillion won (about 173.6 billion yen) in North Korea. This is the management cost of the Organizing Committee.
Regarding the financial resources to host the event in North Korea, the city of Seoul said: “If economic sanctions against North Korea are relaxed, we will be able to secure financial resources through the support of international organizations such as the CIO and global company investments. “It is expected to be 2.5 trillion won (about 252 billion yen), which will reduce the burden on North Korea.”
The proposal was presented to the IOC on April 1, 2018, during the Moon Jae-in administration. However, the IOC accepted a proposal to make Brisbane in Australia the preferred negotiating city at the Executive Committee meeting in February of that year, effectively eliminating north-south co-hosting. Brisbane was officially chosen to host the 2032 Olympic Games at the IOC General Assembly in July of that year.
Representative Bae pointed out that the Olympics may have been used to evade sanctions and provide “support to North Korea through small tricks” such as technology transfers, construction and development of communications networks.
The reporter Oh Kyung Mook
Chosun Ilbo / Chosun Ilbo Japanese version
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