A PYMNTS Company

Switzerland: IOC approves merger of South Korean sports bodies

 |  March 6, 2016

The IOC has approved the proposed merger between South Korea’s Olympic committee and the country’s sports council.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Delegations from both South Korean bodies met with IOC officials on Friday in Lausanne to discuss plans to merge the Korean Olympic Committee and the Korea Council of Sport for All.

    The International Olympic Committee described the talks as “very positive and productive” and said all sides agreed the merger “will have a very positive impact.”

    The IOC called it “a major and historic step for the development of the Olympic Movement and sport in general in Korea.”

    It said the merger will take place “in accordance with the rules of the Olympic Charter.”

    Concerns had been raised previously that a merger could threaten the independence of the Olympic committee.

    The IOC said the merger is to be completed by March 27.

    Full content: Olympic.org

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.