The eastern city of Pyeongchang in Gangwon Province will try for the third time to host the Winter Olympics.

The city held a general meeting Monday at the Sejong Center for the Performing Arts in Seoul to launch the establishment of a bidding committee for the 2018 Winter Games. Hanjin Group Chairman Cho Yang-ho and Gangwon Governor Kim Jin-sun will jointly head the committee.

Pyeongchang plans to set up a secretariat this month and submit a letter to the International Olympic Committee expressing its bid intent by October 15th. Pyeongchang is likely to compete with Germany’s Munich and France’s Annecy in efforts to host the winter games.

Pyeongchang lost its bid to host the 2010 games to Vancouver, Canada, and its bid to host the 2014 event to Sochi, Russia.

The International Olympic Committee will select the host city in July 2011.