The International Olympic Committee (IOC) will hold its 123rd Session in Durban, South Africa on Wednesday and decide the host city of the 2018 Winter Olympics.

The bid committee of South Korea’s Pyeongchang of Gangwon Province is exerting all-out efforts for its final presentation before the IOC votes on the future host of the winter games. The Pyeongchang bid committee said during a news conference that its proposal is aimed at delivering dreams to the next generation, emphasizing the bid slogan, “New Horizons.”

Pyeongchang’s competition to host the sports event includes Germany’s Munich and France’s Annecy. Representatives from each city will give a final 45-minute presentation before IOC officials on Wednesday followed by a 15-minute question and answer session. President Lee Myung-bak, who is on a tour of three African nations, will be the main speaker during Pyeongchang's presentation Wednesday evening local time.

Competition is particularly heating up between Pyeongchang and Munich, which had German soccer hero Franz Beckenbauer join its bid committee.

The IOC will vote on the host city in a secret ballot. In the event none of the three cities wins a majority vote during the first round of voting, the cities that ranked first and second during the first round will be subject to a second round of voting.