Seoul City has submitted a budget plan as it seeks to jointly host the 2032 Summer Olympics with Pyongyang. 

The city government said on Tuesday it estimates three-point-nine trillion won will be needed to co-host the Games, including concurrently holding the opening and closing ceremonies in Seoul and Pyongyang utilizing 5G technology. 

The budget accounts for South Korea's costs to hold 33 events during the 15-day sports festival in the two capital cities of the divided Koreas, but excludes costs related to social overhead capital such as roads and railways. 

The plan, submitted to the Seoul Metropolitan Council, will be put to a vote on Thursday.

President Moon Jae-in and North Korean leader Kim Jong Un had agreed to jointly bid for the 2032 Summer Games during their September summit. Other candidates to express interest include India, Germany and Australia.