Busan, South Korea's second-largest city, will bid for the 2028 Summer Olympics.
 
Busan Mayor Seo Byung-soo declared the city's third bid for the sports event at a news conference on Monday. 
 
The port city dropped its bid for the 2024 Summer Games last year after Tokyo was selected as the host city of the 2020 Summer Olympics.
 
Mayor Seo said 2028 is the 40th anniversary of the 1988 Seoul Olympics and would be an ideal moment to form a consensus to host the event.
 
He added that Busan's capacity to host global events has matured and that the city will aim to hand in its bid to the International Olympic Committee in 2020.