"I will turn Gangwon Province into a land of opportunity where culture and tourism thrive," he said in a press conference, referring to the province where PyeongChang is located.

The lawmaker said he would establish a presidential committee to support the event if elected on May 9 and build the host cities into a winter sports mecca so that the facilities can be used after the Olympics next February. He said the government would provide financial aid to that end.

The candidate promised to turn Gangwon into a gateway to Eurasia by constructing additional rail and road links there. He also vowed to promote the marine tourism industry in three specific regions to serve as sustainable growth engines for the province.

Meanwhile, Yoo continued to face pressure from some members of his party to drop out of the presidential race or merge his candidacy with another contender. Yoo's approval rating has ranked fifth among the five major contenders at around 3 percent.

The party said it has convened a general meeting of lawmakers later in the day to hold "frank" talks with Yoo on the future of his campaign. Yoo has so far refused to step down, saying he was nominated by a democratic process.

Bareun, which means "righteous" in Korean, currently holds 33 seats in the 300-member National Assembly. (Yonhap)