The Korea Times close
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Business
  • Tech
  • Bio
  • Companies
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
Entertainment
& Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sports
World
  • SCMP
  • Asia
Video
  • Culture
  • People
  • News
Photos
  • Photo News
  • Darkroom
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
  • The Korea Times
  • search
  • Site Map
  • E-paper
  • Subscribe
  • Register
  • LogIn
search close
Sports
Wed, August 10, 2022 | 23:37
After Asian Games, lure of big sporting events fades
Posted : 2014-10-08 17:29
Updated : 2014-10-08 18:13
Print Preview
Font Size Up
Font Size Down
By Kim Tae-jong

The just-ended Incheon Asian Games have raised a couple of very important questions: Did the country really need to host such an extravagant international sporting event, and should it ever bid for another in the future?

It appears most would say no to both questions, with many thinking such events are little more than a huge waste of money, even though the country is preparing for its first Winter Olympics in 2018 in PyeongChang.

In fact, the Asian Games host city of Incheon, which was battered for its poor handling and management of the quadrennial event from the beginning, is facing harsh criticism in the aftermath about underestimated costs and overestimated benefits for the Games.

This has caused great concerns in some quarters that South Korea may have placed a wrong and risky bet as it desperately wanted to host the Winter Olympics, an event fewer and fewer countries are interested in hosting because of the cost and work involved.

Even before the Asiad began, its costs caused great concerns among officials with the Incheon government, largely due to a lack of financial support from the central government.

Organizers had promised to host a "cost-efficient" Asiad, by staging such an international sporting event with the relatively small budget of 2.5 trillion won.

But the city now faces a double whammy ― looming debts and new stadiums and infrastructure, most of which will become white elephants because there are no specific plans for them.

"We hope that our facilities will be used by the Seoul government, which has only shabby and old sport facilities," an Incheon city official said. "We also believe long-term gains are expected in tourism, which will help offset the costs."

But that sounds like little more than an empty political campaign slogan.

Experts say that such events should not be touted as a chance to show off the nation's economic prosperity and promote its international influence.

"There will be just small gains for Korea to win by hosting an international sporting event like this, as the country is no longer an unknown and under-developed country sandwiched between China and Japan," said Kim Hyun-duck, a professor of sports marketing at Keimyung University. "The 1988 Summer Olympics in Seoul were the last chance in which we were able to gain more benefits than what we invested."

Incheon will join other cities which had to suffer from growing debts after the party left town, including Montreal, which needed about 30 years to repay debts for the 1976 Olympics held there.

In this regard, a lot of developed countries have lost their appetite for bidding to host international sporting events.

For example, the Norwegian government has withdrawn its bid to host the 2022 Winter Olympics in Oslo, citing concerns about the cost of hosting the event despite the country's great wealth.

That came months after Ukraine, Switzerland and Germany had decided against going ahead with their bids for the event.

Experts now believe that Korea needs to take a different approach toward hosting international events. Previously, such efforts were largely led by some ambitious politicians who wanted to point to the events as political achievements during their term in office.

"Now, it's time to consider sustainability," Kim from Keimyung University said. "We should be able to carefully estimate what we can achieve and earn from hosting a sporting event. Of course, it will not be only about financial gains, but also other indirect benefits."

Emaile3dward@koreatimes.co.kr Article ListMore articles by this reporter
 
LG
  • Capital region to see additional 300 millimeters of rain until Friday
  • North Korea releases water from border dam after downpours
  • [PHOTOS] Damage after torrential rains
  • Visa regulation pits Jeju islanders against justice ministry
  • Canadian YouTuber takes viewers on brewing adventures in Korea
  • China wary of South Korea's US-centered policy
  • Yoon details whereabouts during record downpour to curb conspiracy theory
  • Heavy downpour disrupts e-commerce deliveries
  • Ex-President Lee Myung-bak unlikely to be released
  • Former Starbucks Korea CEO leads growth of Shinsegae brand JAJU
  • Interactive News
  • With tough love,
  • 'Santa dogs' help rebuild burnt forests in Andong
  • 'Santa dogs' help rebuild burnt forests in Andong
  • A tale of natural wine
    • BLACKPINK to start world tour in October BLACKPINK to start world tour in October
    • [INTERVIEW] Im Si-wan finds own narrative for villain role in 'Emergency Declaration' [INTERVIEW] Im Si-wan finds own narrative for villain role in 'Emergency Declaration'
    • 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan Asian American resistance movement 'Free Chol Soo Lee': How young Korean immigrant's wrongful conviction led to pan Asian American resistance movement
    • 'Good Doctor' director to debut Netflix's high-strung suspense series, 'A Model Family' 'Good Doctor' director to debut Netflix's high-strung suspense series, 'A Model Family'
    • Crime thriller 'Limit' is about mother's quest to save abducted son Crime thriller 'Limit' is about mother's quest to save abducted son
    DARKROOM
    • Ice is melting, land is burning

      Ice is melting, land is burning

    • Tottenham 6-3 Team K League

      Tottenham 6-3 Team K League

    • Afghanistan earthquake killed more than 1,000

      Afghanistan earthquake killed more than 1,000

    • Divided America reacts to overturn of Roe vs. Wade

      Divided America reacts to overturn of Roe vs. Wade

    • Namaste: Yogis to celebrate International Yoga Day

      Namaste: Yogis to celebrate International Yoga Day

    The Korea Times
    CEO & Publisher : Oh Young-jin
    Digital News Email : webmaster@koreatimes.co.kr
    Tel : 02-724-2114
    Online newspaper registration No : 서울,아52844
    Date of registration : 2020.02.05
    Masthead : The Korea Times
    Copyright © koreatimes.co.kr. All rights reserved.
    • About Us
    • Introduction
    • History
    • Location
    • Media Kit
    • Contact Us
    • Products & Service
    • Subscribe
    • E-paper
    • Mobile Service
    • RSS Service
    • Content Sales
    • Policy
    • Privacy Statement
    • Terms of Service
    • 고충처리인
    • Youth Protection Policy
    • Code of Ethics
    • Copyright Policy
    • Family Site
    • Hankook Ilbo
    • Dongwha Group