Taiwan awards 3rd highest Olympic medal bonus worldwide

The monetary bonus awarded by the Taiwanese government to Olympic medalists is the third most handsome worldwide, according to NOWnews media. (Illustrative photo courtesy of Pixabay)

TAIPEI (The China Post) — The cash bonus awarded by the Taiwanese government to Olympic medalists is the third most handsome worldwide, according to NOWnews media.

Based on the Regulations on the Issuance of Guoguang Athletic Medals and Scholarships (國光體育獎章及獎助學金頒發辦法), Taiwan Olympic gold, silver, and bronze medalists should be rewarded NT$20 million, NT$7 million, and NT$5 million, respectively.

Medalists competing in Artistic Gymnastics, Athletics, and Swimming are to earn an extra 50% bonus additionally.

Furthermore, the Regulations also apply to athletes that are unable to obtain a medal but rank above eighth place.

Athletes who secure forth place are to receive a bonus of NT$3 million; NT$1.5 million for achieving the fifth and sixth place, and NT$900,000 for the seventh and eighth place.

NOWnews reported that Taiwan is only preceded by Singapore and Indonesia and succeeded by Kazakhstan and Azerbaijan in terms of the monetary amount of medal bonus.

The report exemplified that the Olympic gold medal bonus of the five countries, Singapore, Indonesia, Taiwan, Kazakhstan, and Azerbaijan, are equivalent to NT$28 million, NT$20.88 million, NT$20 million, NT$7 million, and NT$6.95 million, respectively.

Taiwan currently ranks 22nd in the Olympic Medal Count after Yang Yung-wei (楊勇緯) claimed one silver in Judo and Lo Chia-ling (羅嘉翎) defended a bronze in Taekwondo.