3.1 bil. won offered to footballers if they win gold
Korean footballers are expected to get a windfall, as the Korea Football Association has offered a total of 3.15 billion won in prize money if they win gold at the London Olympics.
They have already secured 1.49 billion won as they have advanced to the semifinals _ 640 million won for the advance to the quarterfinals and 850 million won for the advance to the semifinals. Korea beat host Britain 5-4 in a penalty shootout, after a 1-1 draw in the battle of 120 minutes in Cardiff, Britain, Saturday.
If they win bronze, they will be awarded 1.52 billion won and if they win gold, their total award will reach 3.15 billion won, said a spokesman of the football body. Individual footballers would get up to 60 million won, while coach Hong Myung-bo would get 200 million won.
On April 19, the Ministry of Culture, Sports and Tourism announced in the goal to be in the top 10 with 10 golds for London Olympic Games that the government will give 60 million won to each gold medal winner, 30 million won to each silver medal winner and 18 million won to each bronze medal winner.
The figure is 6.6 times the prize of 9.9 million won offered to gold medal winners at the Sydney Olympics, 12 years ago. The prize is exceptionally high even if inflation is counted.
Medalists will be also awarded a sport pension from the Korea Sports Promotion Foundation. As a result, one gold with actual market value of 800,000 won would guarantee the medalist up to 100 million won, a sports expert said.
The government has raised the prize by 10 million won to 60 million won for gold medalists at the London Olympics; silver and bronze medalists will get 30 million won and 18 million, up from 25 million won and 15 million won, respectively.
The Korea Handball Association has put a stake of 1 billion for gold medals to both men and women players to revive past glory. The nominal prize is 410 million won each due to its regulations but the award has been elevated to 500 million won each with an additional 90 million won as a special reward. Korean male hand ballers won silver in 1988 Seoul Olympics and female hand ballers won golds twice in 1988 and 1992 Barcelona Olympics.
The Korea Hockey Association has set aside 250 million won each for male and female players if they win gold. The Korea Gymnastics Association has set aside 100 million won for gold medalists; and the badminton body a total of 400 million won depending on their performances.
Jin Jong-oh, gold medal opener for Korea at London Olympics, has secured a 50 million won prize from the Korea Shooting Federation.
Gold medalists will be paid a 1 million won pension every month, silver medalists 750,000 won and bronze medalists 525,000 won.