The Pyeongchang Village, which is due to welcome its first guests on February 1, will be used to house up to 3,894 athletes and team officials during the Winter Olympics.

It will then be used as the Pyeongchang Paralympic Village to house up to 2,268 personnel.

A second Village in Gangneung, where construction was finished in September, will be used to accommodate more than 2,900 for the Winter Olympics only.

Today's ribbon cutting ceremony in Pyeongchang was attended by Pyeongchang 2018 President Lee Hee-beom.

He was joined by South Korean Minister of Culture, Sports and Tourism, Do Jong-whan, National Assembly Member Yeom Dong-yeol and Gangwon Province vice-governor Song Suk-doo.

"The Pyeongchang 2018 Villages are complete after years of hard work and we are pleased that they will serve as a legacy for the Games," Lee said.

"The Villages will serve as a place where athletes and officials can relax and connect with athletes from other nations, creating memories and friendships that will last a lifetime."

Others present at the ceremony were Gangwon Provincial Assembly chairman Kim Dong-il, Korean Sport and Olympic Committee President Lee Kee-heung, Korea Paralympic Committee head Lee Myung-ho and Pyeongchang County Mayor Sim Jae-gook.

Representatives of Provincial Government agencies and a selection of local residents were also invited.

The Pyeongchang Village consists of 600 units across eight 15-storey buildings and was constructed by Yongpyong Resort with KRW ₩180 billion (£123 million/$166 million/€140 million) of private investment.

The Gangneung Village has 922 units across nine 25-storey buildings and was constructed by Korea Land and Housing Corporation at a cost of KRW ₩214.6 billion (£146.7 million/$197.4 million/€166.7 million).

It is claimed that both Villages have been designed to provide a home from home for the participating athletes and officials, and have been built in locations that allow for short travel times to the respective competition venues near each of them.

On-site facilities include a bank, post office, general store, laundry service, fitness centre, recreational centre, a beauty salon and a multi-faith centre.

The Villages also have a large dining facility that will cater a wide range of cuisines and dietary requirements and serve meals 24 hours a day during the competition period.

Each athlete delegation will be part of an official welcome ceremony when they enter the Village at the central square.

This will be the site for various cultural events and performances during the Winter Olympic and Paralympic Games, including K-pop concerts, traditional Korean musical performances and special mask dances on Lunar New Year’s Day.

The cultural programme within the Villages has been designed to meet the cultural vision of the Games and give all delegations the chance to experience more than just their competition venue and sport during their time in Pyeongchang.

Both Villages were offered for sale to the general public and were sold out in May and November in Pyeongchang and Gangneung respectively.

Organisers claim they will leave a legacy from the Games for generations to come.

Still needed to be done is the final overlay and completion of the temporary tents that will be used as Village operational facilities.

The construction of both Villages began back in mid-2015 and was completed on time, it is claimed.

Accommodation has been one of the main concerns in the build-up to Pyeongchang 2018, which is scheduled to begin with the Opening Ceremony on February 9 and conclude on February 25.

In May, National Olympic Committees expressed fears about a shortage of beds at the Pyeongchang Village.

A lack of hotels in mountain clusters, which could mean that vital team officials and coaches will have to stay in the Gangneung coastal cluster, is another issue which has been raised.

Pyeongchang 2018 are aiming to address these with the building of new hotels, but it was revealed in July that 11 still needed to be completed before the Games.