south korean head of 2018 winter games resigns
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

South Korean head of 2018 Winter Games resigns

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSouth Korean head of 2018 Winter Games resigns

Cho Yang-Ho, the chairman of Hanjin Group and Korean Air
Seoul - Arab Today

The chief organiser of the 2018 Winter Olympics in South Korea resigned Tuesday less than two years before the Games begin, citing urgent problems with his troubled shipping business.

Cho Yang-Ho, the chairman of Hanjin Group and Korean Air, resigned with immediate effect due to the "critical financial issues" facing Hanjin Shipping, the Pyeongchang 2018 organising committee said in a statement.

The statement made no mention of a possible replacement.

Hanjin Shipping - the South's top container carrier - applied for a creditor-debt restructuring plan last week to avoid bankruptcy after reporting mounting losses stemming from slowing demand in China.

Cho took over as president of the Games organising committee in August 2014, when the event was struggling with construction delays and significant funding problems.

Things got so bad at one point that the International Olympic Committee (IOC) floated the possibility of moving some events to other countries such as Japan.

The South Korean tycoon, who initially signed up for a two-year term, was widely credited with turning the situation around, and bringing in big name sponsorship, including some of South Korea's largest conglomerates like Samsung and Lotte Group.

The organising committee recently said it had reached 70 percent of its funding goals.

The first test events held in February were largely successful, although the International Olympic Committee Coordination Commission Chair Gunilla Lindberg said the workload would "soon increase dramatically" with two dozen test events scheduled for the next winter sports season.

"I can proudly say that (organising committee) has become a strong team, and the challenges we have overcome have allowed us to achieve success at our first official test events," the statement quoted Cho as saying.

"I am confident that the committee and the new leadership will move forward towards a successful 2018 Winter Games," he added.

The IOC in 2011 picked South Korea's northeastern ski resort of Pyeongchang to host the winter games, favouring it over Munich and the French Alpine town of Annecy. 

Source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korean head of 2018 winter games resigns south korean head of 2018 winter games resigns

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 06:29 2018 Sunday ,21 January

500 new trainees join US-backed Syria border force

GMT 10:31 2017 Sunday ,20 August

the history of solar eclipses

GMT 16:36 2017 Tuesday ,05 December

Gulf Air launches Bahrain Tourist Visa Service

GMT 03:19 2012 Saturday ,15 September

FREEDOM

GMT 06:56 2014 Friday ,12 September

No winners in Gaza

GMT 22:30 2012 Monday ,16 July

Sudan ruling party says protests \'ridiculous\'

GMT 07:09 2012 Wednesday ,20 June

Sudan and South Sudan border tensions

GMT 12:02 2012 Tuesday ,17 April

What the Living Do

GMT 17:33 2017 Saturday ,25 March

Caceres recalled to Paraguay squad for Brazil clash

GMT 17:18 2017 Tuesday ,19 December

Bahrain weather forecast

GMT 09:35 2017 Sunday ,29 October

Actress Annabella Sciorra accuses Weinstein of rape

GMT 13:43 2017 Thursday ,16 November

People Magazine names Blake Shelton 'sexiest man alive'

GMT 18:10 2017 Monday ,17 April

GCC Secretary-General Condemns Syria Blast
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle