Former Samsung Group Chairman Lee Kun-hee, who was recently reinstated as a member of the International Olympic Committee, has promised to make personal monetary rewards to Koreans who win medals at the Vancouver Winter Olympics.

Lee visited and encouraged Korean athletes and officials in downtown Vancouver on Thursday, one day prior to the start of the games.

In the meeting, Lee promised to reward Olympic medal winners with special cash bonuses equivalent to 50 percent of the reward given to the athletes by the government.

The state reward for gold medalists in individual events is set at 40 million won, while each athlete of a team that takes gold gets about 30 million won.