South Korea finished fifth in the medals table at the Olympics in Vancouver, winning 14 medals, six of them gold, including for figure skater Kim Yu-Na, who was arguably the star of the Games.

She was the guest of honour as Lee hosted a special lunch for the South Korean team at Cheong Wa Dae, the Blue House, the President's residence.

He said: "The brilliant Winter Olympics feat proved our country has become a sporting powerhouse and an advanced country.

"You gave the Korean people a lot of hope and showed the future of Korean sports at a time when the country is suffering from economic difficulties

"Somebody said you made a miracle, but I don't agree.

"I believe it was the result of your blood, sweat and tears.

"You deserve our respect."

Kim was singled out for special praise by the President.



He said: "Watching Kim's performance on TV was really nail-biting.

"I closed my eyes whenever Kim jumped."

Lee pledged more investment in winter sports and active Government support for Pyeongchang's bid to host the 2018 Winter Olympics.

He said: "Your good performance in Vancouver will greatly help Pyeongchang's bid."

Pyeongchang and Munich are considered the front-runners to be awarded the 2018 Games, which the International Olympic Committee are due to award at its Session in Durban on July 6, 2011.

Annecy are also bidding.

Finance Minister Yoon Jeung-Hyun told tax officials the Government would consider offering financial benefits to companies interested in creating teams for currently unpopular sports.

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