Additional Government funding has been unveiled in connection with Pyeongchang 2018 ©Getty Images

An additional ₩12.2 billion (£8.5 million/$10.9 million/€9.2 million) is set to be provided by the South Korean Government in the latest round of special grants designed to assist preparations for the 2018 Winter Olympic and Paralympic Games in Pyeongchang, it has been announced.

The amounts, which are not going directly to the Organising Committee, consists of specific donations for set purposes.

According to the Yonhap news agency, this will include ₩7.5 billion (£5.2 million/$6.7 million/€5.6 million) donated by the Interior and Safety Ministry to the local administration to fund construction projects underway to supplement Olympic and Paralympic venues. 

This include funds for remodeling accommodation facilities for volunteers, improving facilities for cultural events taking place alongside the Games and constructing access roads to railway stations.

An additional ₩4.7 billion (£3.3 million/$3.5 million/€4.2 million) has been earmarked for helping renovate facilities to be used during the Torch Relay due to start later this year.

"We have to make the preparations for the event without hitches so that it will become a festival for all of the people around the world," Interior and Safety Minister Kim Boo-kyum told Yonhap.

In total, the Ministry has now allocated ₩57.7 billion (£40 million/$51 million/€43 million) in special grants towards the construction of venues and municipalities' projects to assist preparations.

This will help assist municipalities alleviate temporary expenses required in connection with Pyeongchang 2018.

Pyeongchang 2018 chaired by Lee Hee-beom has still not revealed their budget for 2017 ©Getty Images
Pyeongchang 2018 chaired by Lee Hee-beom has still not revealed their budget for 2017 ©Getty Images

It it still not clear exactly what the final budget is for the first Winter Olympic Games in South Korea.

The budget announced by Pyeongchang 2018 for 2016 had increased by ₩600 billion (£386 million/$518 million/€468 million) from the original projection of ₩2.2 trillion (£1.4 billion/$1.9 billion/€1.7 million).

Organising Committee President Lee Hee-beom said after an International Olympic Committee (IOC) Coordination Commission visit last October that the 2017 budget would be approved later that month or in November.

Further rises were widely expected. 

Deadlines of January and March were then given when the initial one was not met.

Then, during an IOC Coordination Commission visit in March, organisers and IOC officials appeared to deny that a new budget would ever be given.

They instead announced that they were exploring ways to reduce a lingering deficit of ₩300 billion (£215 million/$262 million/€247 million).

The budget is among various areas set to be discussed at the final IOC Coordination Commission inspection due to begin at the Alpensia Resort on Tuesday (August 29).

Transportation and accommodation matters are set to be other leading items along with unclear legacy plans at several venues and poor ticket sales.