During the meeting, which was very positive and productive, all parties came to the conclusion that the merger of the KOC and KOCOSA will have a very positive impact, and that is a major and historic step for the development of the Olympic Movement and sport in general in Korea. The parties also agreed that the merger will be undertaken in accordance with the rules of the Olympic Charter.
All parties therefore agreed on the principle of the merger and on the procedure and timeframe for the process, which is to be completed by 27 March 2016. In particular, it was agreed that the new statutes of the merged organisation will be finalised with, and approved by, the IOC before they are adopted by the General Assembly of the merged organisation.
All parties will continue to work closely together with mutual understanding and in a constructive manner to reach this objective by the agreed deadline, for the benefit of the Olympic Movement in Korea.