Kim Jin-sun made the pledge despite the Gangwon Development Corporation, which owns and operates Alpensia, last month revealing that the resort has been losing approximately 60 billion won (£35 million/$55 million/€40 million) annually because of operational costs and interest payments. 

A total of 1 trillion won (£579 million/$919 million/€657 million) was raised in municipal bonds and bank loans to build the resort, which was completed in 2010 and officials hope will become a winter sports mecca for Asia on the back of Pyeongchang 2018.

Alpensia is due to make repayments of 560 billion won (£32 million/$51 million/€38 million) later this year and another one of 220 billion won (£13 million/$20 million/€15 million) in 2014. 

An emergency task force has been set-up to to find a soluation and talks are continuing with the Government and private investors to try to raise the money. 

But Kim, the former Governor of Gangwon Province, whose personal dream it was to host the Winter Olympics, is confident that the problem will soon be resolved. 


"I can assure you that because this is a venue for our Olympic Games we will keep this Alpensia resort in any case whatsoever," he said.

"There has been a lot of attention and there are a lot of people who are interested in this Alpensia resort.

"We have many investors who have expressed their interest; we expect that this financial difficulty will be settled down very soon.

"There is no possibility of bankruptcy."

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