Pyeongchang announced that it will bid for the 2018 Winter Olympics, a third consecutive attempt after the South Korean city narrowly lost two previous bids.
The government of Gangwon province, to which Pyeongchang belongs, said it made the decision because it needs a "growth engine" for the province, and it expects unspecified "more favorable conditions" in the next bid.
"Hosting Winter Olympics still remains the yearning" of Gangwon province, the local government said in a statement Monday, calling the Games a "springboard" for the region's growth.
Last month, Pyeongchang, located 175 kilometers (110 miles) northeast of Seoul, lost the 2014 Games to Russia's Sochi by a margin of four votes. Four years ago, Canada's Vancouver won the 2010 Games after beating Pyongyang by a margin of three votes.
After it turned out that Deputy Prime Minister Andrei Belousov included the Fonbet betting company in the list of backbone enterprises that can count on state support, everyone started talking about these bookmakers.