As the competition to host the 2036 Summer Olympics enters its final stage, Seoul is making its last push with an Economic Olympics strategy.
Seoul is emphasizing its ability to host a profitable Olympics by fully utilizing its existing infrastructure, keeping the budget at a minimum (approximately $4 billion), and focusing all efforts on persuading voting delegates.
According to Seoul city officials on Tuesday, the Korean Sport & Olympic Committee (KSOC) will hold a vote among its delegates on Friday to decide the country’s official candidate city. Seoul Mayor Oh Se Hoon will personally deliver a presentation on the bid. Seoul competes against Jeonbuk (North Jeolla Province) to secure the nomination.
Seoul aims to bring the Olympics back to the city for the first time in 48 years following the 1988 Seoul Olympics. The city will use the event as a springboard to become one of the world’s top five global cities.
Seoul’s core strategy is to host a cost-effective and sustainable Olympics. Unlike past Olympic bids that required large-scale venue construction, Seoul plans to use only existing facilities, eliminating the need for new stadiums.
The city projects hosting the Olympics will cost approximately $4 billion, roughly half the recent Games. This approach, which involves repurposing venues from the 88 Olympics and existing sports facilities, aligns with the International Olympic Committee’s (IOC) sustainability agenda.
To minimize infrastructure challenges further, Seoul has crafted a strategy to spread events across Gyeonggi, Incheon, Busan, and Gangwon provinces while keeping Seoul the central hub. On-site inspections have identified 38 viable venues: 24 in Seoul, 7 in Gyeonggi, 5 in Incheon, and one in Busan and Gangwon.
A city official stated, “Busan (yachting) and Yangyang in Gangwon (surfing) have already received approval for venue use.”
However, Seoul has officially ruled out co-hosting with Jeonbuk. During a city council meeting on February 19, Mayor Oh stated that a joint bid could disadvantage Seoul in international competition.
Officials explain that pursuing a joint bid would necessitate restarting all planning and analysis from scratch, making it impractical at this stage.
A city representative noted, “While Jeonbuk proposed joint hosting, their feasibility study is still pending at the Ministry of Culture, Sports and Tourism. Their proposal is also expected to cost over 9 trillion won ($6.2 billion).”
Seoul’s bid has strong public backing. In a citywide survey conducted last summer, 85.2% of Seoul residents and 81.7% of South Koreans nationwide supported hosting the Olympics.
Seoul is highlighting its extensive experience hosting international sporting events since the 1988 Olympics and its world-class transportation and accommodation infrastructure, including Incheon International Airport.
During on-site inspections, Seoul emphasized its ability to maximize existing infrastructure and operate the Games efficiently, positioning itself as a strong candidate under the IOC’s “Olympic Agenda 2020+5” sustainability initiative.
Even if Seoul is selected as South Korea’s candidate, several additional steps must be taken before securing the Olympic bid. The city must receive approval from the Ministry of Culture, Sports, and Tourism and the Ministry of Economy and Finance, followed by the IOC’s final selection process. This procedure is expected to take 2.5 to 4 years.
A city official stated, “Seoul is not only focused on securing the domestic nomination but is also preparing for the final competition at the IOC level. We are developing a long-term strategy considering government approvals and the global bidding process.”