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South Korean anti-corruption officials to monitor 2018 Winter Olympics spending

South Korean anti-corruption officials to monitor 2018 Winter Olympics spending

As part of a nationwide effort to root out corruption, South Korean officials announced Tuesday that they will monitor spending on the 2018 Pyeongchang Olympics.

The organizing committee for the Winter Games has reportedly received more than $4 billion in government subsidies.

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"Given that a temporarily formed organization will handle the large amount of state funds in a short period of time, irregularities could occur," Prime Minister Hwang Kyo-ahn said.

Officials in Gangwon Province, where the Olympics will be held, said they have already been closely watching the preparations.

The organizing committee recently secured sponsorships from a number of large corporations, easing concerns about financing for the event.

South Korea's "corruption vaccination" program will apply to all major state projects, the government said.

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