Saudi Arabia, Olympic Silver Medal Prize 1.8 Billion Won… UK, etc. ‘No Prize’


On the 10th, the Hong Kong Olympic Committee announced that it would award 6 million Hong Kong dollars (about 1 billion won) in prize money to the gold medalist in the individual event at the 2024 Paris Olympics, which will open at the end of this month.

Recently, the American current affairs magazine Time reported on the Olympic medal prize money, which varies greatly from country to country.

According to Time, Saudi Arabia, which has recently spent a lot of money hosting or hosting various sporting events, paid 5 million riyals (about 1.8 billion won) in prize money to the silver medalist at the 2021 Tokyo Olympics.

Tareg Hamedi won a silver medal in the karate event at the Tokyo Olympics.

Saudi Arabia, which has yet to win an Olympic gold medal, has not announced its medal prize money plan for the Paris Olympics, but if it wins a gold medal, it is likely to receive a larger amount than the silver medalist at the 2021 Tokyo Games. https://bit.ly/outlookindiapowerball

Singapore has also set a similar medal prize money as Hong Kong.

Singapore will award 1 million Singapore dollars, or about 1 billion won in Korean currency, for the individual gold medal.

Singapore's only Olympic gold medal came in swimming at the 2016 Rio de Janeiro Games.

The size of Taiwan's prize money is also considerable.

The gold medalist will receive 20 million Taiwan dollars (840 million won) and a lifetime monthly allowance of about 5 million won.

In addition to these countries, the prize money exceeds 100,000 dollars, which is about 130 million won in Korean currency, and there are Indonesia, Kazakhstan, Malaysia, Morocco, Italy, the Philippines, Hungary, Kosovo, Estonia, and Egypt.

India pays 7.5 million rupees to gold medalists from the government and 10 million rupees separately from the Indian Olympic Committee, for a total of about 280 million won.

Malaysia awards Olympic gold medalists with a foreign car in addition to about 300 million won in prize money, and Kazakhstan gives them an apartment.

The Indonesian players who won the women's doubles badminton event at the 2021 Tokyo Olympics reportedly received more than 600 million won in government prize money and houses, cows, and restaurants from sponsors.

Austria gave the Vienna Philharmonic Orchestra commemorative coins as a gift to gold medalists at the 2021 Tokyo Olympics, which are said to be worth about 25 million won.

Iraq gave about 10 million won to each of the national soccer team and weightlifter Ali Ammar Yaser who advanced to the Olympic finals to encourage them.

On the other hand, countries such as the UK, Norway, and Sweden do not provide separate prize money to medalists.

The US Olympic Committee has set the prize money for gold medals at 37,500 dollars and 50 million won, respectively.

Korea has paid out 63 million won for gold medals, 35 million won for silver medals, and 25 million won for bronze medals at the 2021 Tokyo Summer Olympics and the 2022 Beijing Winter Olympics. https://paste.toolforge.org/view/7cd06920

The host country, France, is planning to provide 80,000 euros (120 million won) in prize money for gold medals at the upcoming Paris Olympics.

The World Athletics Federation will provide 50,000 dollars in prize money to gold medalists at this year's Paris Games.

This is the first time that an athletics organization has provided separate prize money to Olympic gold medalists.