o The South Korean government held the 291st South and North Exchange
and Cooperation Promotion Council on February 14, resulting in the
decision to provide cooperative funding for the North’s participation
in the 2018 PyeongChang Winter Olympics under the Inter-Korean
Cooperation Act.
- The council held an open-table discussion with ministers and
vice-ministers from 11 government ministries, including the Ministry
of Strategy and Finance and the Ministry of Culture, Sports and
Tourism, and three civilian committee members, with Unification
Minister Cho Myoung-gyon presiding.
*【Officials and committee members in attendance】 Ministers and vice
minister officials from the Ministry of Unification, the Ministry of
Strategy and Finance, the Ministry of Culture, Sports and Tourism, the
Ministry of Agriculture, Food and Rural Affairs, the Ministry of
Health and Welfare, the Ministry of Land, Infrastructure and
Transport, the National Security Office, the National Intelligence
Service, and the Office for Government Policy Coordination, Prime
Minister's Secretariat were in attendance, as well as Seoul National
University Professor Kim Byeong-yeon, Ewha Womans University Professor
Nam Yeong-suk, and Women’s Human Rights Defenders Head Choi Yeong-ae.
o The resolution states that all necessary facilities and cultural
cooperation expenses incurred during the duration of the visiting
North Korean Olympic delegation to the 2018 PyeongChang Winter
Olympics are to be covered by the Inter-Korean Cooperation Fund.
- Funds are to be determined according to agreements established at
the Inter-Korean High-level Talks last month on the 9th and at the
Inter-Korean High/Working-level Talks on the 17th the following week.
- Expenses incurred during the Northern delegates’ stay were agreed
to be based upon Article 8, Clause 1 of the Inter-Korean Cooperation
Fund Act (funding for the cultural and social exchanges between the
two Koreas), and expenses incurred during the Cultural Exchange
Project according to Article 8, Clause 2 of the same act.
o The Inter-Korean Cooperation funds amount to a total of
approximately 2.86 billion KRW, and will be applied to the funding and
sponsorship of the 2018 PyeongChang Winter Olympics and the
Paralympics Organizing Committee, the Korean Sport & Olympic
Committee, the World Taekwondo, and other organizations.
- However, once the project has reached completion, the actual
amount required is expected to be less than the agreed upon amount.
* 2002 Busan Asian Games – Agreed: ~2.12 billion KRW / Applied:
~1.35 billion KRW
2003 Daegu Summer Universiade – Agreed: ~1.35
billion KRW / Applied: ~890 million KRW
2014 Incheon Asian Games
- Agreed: ~930 million KRW / Applied: ~410 million KRW
o Seoul is working meticulously around the clock to ensure that this
opportunity to fund the North’s visit during the 2018 PyeongChang
Winter Olympics can serve as a means for the embracement and
partnership of the two Koreas.
- The South Korean government is also trying to maintain close
relations with other nations around the globe while determining a
sound resolution for international sanctions on the North.
