The latest news in the Olympic World is that South Korea Chooses Seoul for its 2032 Olympic Bid.  In addition, according to a statement by the South Korean Olympic Committee, the voting came between Seoul and Busan. In the end, Seoul made the cut after receiving 34 of 49 votes in its favor.

However, they are still a few more steps to take before it is official.  This is because even though the Olympic committee has made their decision, it still needs approval from other governmental agencies.

First, Korea’s Sports and Finance Ministries will need to approve their decision. However, this is more of a formality and the decision will in all likelihood be upheld.  Once it received the approval, South Korea will then inform the International Olympic Committee.  According to our sports news insiders, Korea   will let the International Committee know of their decision on Friday. In addition, they will also let the committee know that they want to co-host the 2032 Olympics with North Korea.

Peace Negotiation using Sports

South Korea Chooses Seoul for its 2032 Olympic BidSouth Korea is known for using sports diplomacy as a way to further peace negotiation with North Korea. Thus, co-hosting the 2032 Olympic is seen as a great way to further stabilize their relationship with North Korea.

Back in September of last year, the leaders of both Koreas agreed to pursue this joint bid for the 2032 Olympics.  Furthermore, they also made the decision to send a joint team to the 2020 Tokyo Summer Olympics.

While this is a great opportunity to further peace, there have been some roadblocks starting with declining public support.  This is because the costs of hosting the Olympics are very large in terms of support and creating the necessary infrastructures.  However, according to Pay Per Head companies, the Mayor of Seoul, Park Won-soon is behind the bid.

In a statement, he said that “Seoul will cooperate with the national government”.  He also said that this is “an opportunity to change the fate of the Korean Peninsula”.

For websites that specialize in Korean online sports betting, this is a great opportunity for them. This is because the host nation always sees a rise in sports wagering during such an event.