Organizers for the 2018 Pyeongchang Winter Olympic Games are aiming to raise a fund of more than 940 billion won, or over 794 million U.S. dollars, to order to successfully host the international event.
 
At a forum hosted by the Korea Employers Federation on Thursday, President of the Pyeongchang Winter Olympics Organizing Committee Lee Hee-beom also vowed to make the 2018 event profitable through a sound management of budgets.
 
He said that his committee will develop various marketing strategies to promote the Pyeongchang Olympic and Paralympic Games and attract investments, including tour programs linking Olympic facilities and popular local tourist destinations.
 
Lee predicted that the tours will draw two-point-six million foreign and domestic tourists during the Olympics.
 
Asked about how to achieve the fundraising goal, he explained that the committee is developing a variety of licensing products as a way to encourage more donations from domestic corporations.
 
The committee chief also said that the 2018 games will showcase state-of-the-art information technologies, which will offer tailored services to foreign tourists throughout their stays the moment they arrive until they leave.
 
The organizing committee has reached 83 percent of its fundraising goal. However, it is said to have run into difficulties now collecting amid the Choi Soon-sil scandal.
 
The Hyundai Research Institute previously forecast that the Pyeongchang Games will boost investment and consumption by 21-point-one trillion won and generate economic effects of 32-point-two trillion won over the next ten years. It also said that eleven-point-six-billion-won worth of effects will be created if the sports event helps improve the nation’s brand image.
 
The Korea Institute for Industrial Economics and Trade predicted that the 2018 games will promote production worth 20 trillion won and produce 230-thousand jobs and added value of nine trillion won.