Pyeongchang 2018 Olympics organizing committee elects business tycoon, Cho, as president

The organizing committee for the 2018 Winter Olympics in Pyeongchang says South Korea's Hanjin Group chairman Cho Yang-ho has been elected as president.

Cho replaces Kim Jin-sun, who quit suddenly last week saying new leadership was needed to complete preparations for the games.

Committee officials say Cho was elected in a meeting Thursday and will serve out the remainder of Kim's scheduled term of office, which expires in October next year.

Cho's election requires endorsement by the sports minister, which is considered a formality.

Cho was head of Pyeongchang's bid committee when it won the right to bring the Winter Games to South Korea for the first time.

South Korea's government audit agency has said it conducted a special audit on the organizing committee over its preparation for the Olympics.