PyeongChang 2018 announces multimillion-dollar surplus

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Photo shows the performance at the closing ceremony for the 2018 PyeongChang Winter Olympic Games.

The President of the Organizing Committee for PyeongChang 2018 (POCOG) Lee Hee-Beom announced the Games has achieved a multimillion-dollar surplus at the strategic part of the PyeongChang 2018 Debriefing, which was held on June 4 and 5.

"I was pleased to say that PyeongChang 2018 can already announce a multimillion-dollar surplus," Lee said. "It seems that Beijing will continue with this trend of Games that break even, or, as in the case of PyeongChang, make a profit."

"This debriefing showed that the reforms of Olympic Agenda 2020 now really have come to fruition," said the International Olympic Committee (IOC) President Thomas Bach at Tuesday's conference.

"There you can see the tangible results of these reforms. The most obvious one is the announcement by POCOG that the PyeongChang 2018 Organizing Committee has produced a multimillion-dollar surplus - even after not having fully benefited from the reforms of Olympic Agenda 2020.

"POCOG President Lee was clear that this was possible only because of the reforms of Olympic Agenda 2020, and because of the close cooperation with the IOC. There, you can see Olympic Agenda at work.

"This is what will lead us in the right direction for the future organization of the Games. We have proved that we have turned the page with regard to the organization of the Games," said Bach.

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