Olympics-Pyeongchang promises no budget waste

SEOUL, July 20 (Reuters) - The head of Pyeongchang's organising committee for the 2018 Winter Games (POCOG) has promised there will no wastage of taxpayers money and said they were aiming to deliver "the most effective and economic" Olympics. Cho Yang-ho, who took the helm of POCOG a year ago, told a news conference on Monday that preparations for Asia's first Winter Games outside Japan had made great strides thanks to closer cooperation between POCOG, the government and Pyeongchang's Gangwon Province. Concerns about costs and construction delays had raised speculation earlier this year that some of the events might have to be moved away from Pyeongchang, perhaps even to Japan. But preparations are now in full flow, with an IOC coordination committee visit in March reporting they were satisfied venues would be ready, while major South Korean companies such as Samsung, Korean Air and LG have agreed to pour in funds to support the Games. "We won't be wasting precious taxpayers' money or government budget," Yonhap news quoted Cho as saying. "We've been trying to figure out how to run the most effective and economic Olympic Games, and some steps are already being taken." The coastal city of Gangneung will be used for the figure skating, curling, ice hockey, speed and short-track skating events, while the alpine town of Pyeongchang will stage mountain events such as skiing, sliding and Nordic events. "We haven't yet established specific plans, but we'll be renting pieces of equipment that won't be of much use after the Olympics instead of buying them," he added. "Also, we have more flexibility under 'Olympic Agenda 2020' and we'll be able to combine some venues to cut costs." The International Olympic Committee revamped its rules last year in a bid to give host cities options to help reduce costs and to broaden the Games' appeal to the younger generation. (Reporting by Peter Rutherford; Editing by John O'Brien)