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South Korea set aside $2.6 million to compensate North Korea’s Olympics bill

Tae Ok Ryom and Ju Sik Kim of North Korea call after their slight during the Pair Skating Short Program on day 5 of the Pyeongchang 2018 Winter Olympics at Gangneung Ice Arena on Feb 14, 2018 in Gangneung, South Korea

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  • South Korea has budgeted $2.6 million to compensate for North Korea’s losses at the Winter Olympics.
  • The income will cover food, accommodations, transportation, and sheet prices for the 424-strong delegation.
  • The decision comes as allies pull for some-more sanctions against the North.
  • South Korea has a story of profitable for North Korea to attend sporting events and, in 2018, has budgeted $895 million to boost team-work between the two countries.

South Korea has authorized spending $2.6 million to cover North Korea’s costs at the Winter Olympics.

Senior supervision officials met on Wednesday to approve the check that will compensate for hosting North Korea’s delegation, including 200 cheerleaders, a 137-piece orchestra, and 22 athletes.

The South will cover the cost of 424 North Koreans’ food, Olympics opening fees, travel and accommodation, with many of the representatives staying in five-star hotels in Seoul.

It’s a formidable position for South Korea, which “will continue close conference with the general community, holding into comment general sanctions against North Korea,” according to a Ministry of Unification statement.

The country has already had to walk a excellent line in tact of general sanctions against North Korea at the Games, while allies including the US and Japan pull for some-more sanctions.

But the government’s decision is mostly unsurprising as South Korea has opted to compensate for the North’s losses at a series of general sporting events in the past.

According to patterns of past years, the volume South Korea will finish up spending will likely be much reduction than the $2.6 million it has set aside, the Ministry of Unification pronounced in a statement.

In 2002, at the Busan Asian Games, South Korea budgeted $1.9 million and paid only $1.2 million. At the Incheon Asian Games in 2014, South Korea spent only $380,000 of an estimated $860,000.

But South Korea balance the check for these events has always been essential to the North’s participation.

In the lead-up to the 2014 Games, the South primarily pronounced it would follow general norms for attending countries to compensate their own way. North Korean officials then reportedly “stormed out” of a formulation meeting, and South Korea finished up profitable regardless.

South Korea may also have to compensate the North if an Inter-Korean limit eventuates after this year. Ahead of both prior summits, in 2000 and 2007, the South paid its neighbor vast sums of money.

The check for this year’s Olympics output was allocated from South Korea’s Inter-Korean Cooperation Fund. Since 1990, the supervision has set aside supports to support informative exchanges and mercantile team-work with the North.

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