Candidate cities bidding to host the 2018 Winter Olympics have taken part in a joint presentation meeting in London as the International Olympic Committee (IOC) is set to announce the host city in three months.

South Korea's Pyeongchang is competing against Germany's Munich and France’s Annecy for the chance to host the event.

At the presentation meeting on Thursday, the Pyeongchang 2018 Winter Games Bid Committee stressed that it has completed all preparations needed to host the winter games, including the construction of stadiums and accommodations, provision of transportation and the full support of the government and the Korean people.

In particular, the committee unveiled a plan to invest 500 million dollars until 2018 to foster Winter Olympic games.

Munich, on its part, emphasized that Germany is supporting more than 50 percent of finances of the Winter Olympics’ events. IOC Vice President Thomas Bach, who may become the next IOC president, and renowned figure skater Katarina Witt actively promoted Germany’s case at the meeting.

The IOC will decide on the host city during a general assembly meeting in South Africa in July.