Korean Olympic Gold Medal Winner Incentives?

Years ago I heard that Korean Olympic Gold Medal Winners receive awards/incentives from the Korean Government for winning a Gold Medal during the Olympics (Summer or Winter).

One item I heard was the Gold Medal winner receives a free apartment for life.

Any provided information is appreciated.

Any links provided would also be appreciated.

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  • 8 years ago
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    According to Korea Sports Promotion Foundation (KSPF) policy, an Olympic gold medalist can earn 1 million won a month along with 90 pension points, while silver and bronze winners can make 450,000 won (30 points) and 300,000 (20), respectively. Also, once athletes surpass 110 points, they receive one-time bonuses dependent on what color of medal they win.

    If an athlete wins a gold medal, they receive 5 million won for every 10 points over 110, or 1.5 million won for a silver or bronze.

    In addition to the pension and the bonuses, the medal winners will take a big wad of cash from the government and IOC member and former Samsung Chairman Lee Kun-hee.

    The government promised 40 million won for each gold medal, 20 million won for a silver and 12 million won for a bronze. Lee has said he'll add half of what the government gives (prizes of 20, 10 and six million won).

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  • 3 years ago

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