(NEWS CENTER) — Medals to adorn the world's best athletes at next year's PyeongChang Winter Olympics were unveiled Wednesday during simultaneous ceremonies held 6,800 miles apart in New York City and Seoul.

The edge of the gold, silver and bronze medals features consonants from the Hangul alphabet, spelling what translates to "PyeongChang Winter Olympics" in Korean.

The front bears the Olympic rings along with diagonal lines symbolizing Olympic history and determination of the participants. The back lists the sports discipline, event and the Games' emblem.

The lanyard ribbon, created using traditional Gapsa cloth, is light teal and light red with patterns that represent "the delicate and refined beauty of Korea," organizers said.

PHOTOS: PyeongChang 2018 medals unveiled

Each medal is 92.6 mm in diameter and averages 6.91 mm in thickness. The gold, silver and bronze medals weigh 586 grams, 580 grams and 493 grams, respectively.

South Korea's previous hosting of the 1988 Seoul Summer Games featured a medal design that had been used since the 1928 Summer Olympics in Amsterdam.

Across 102 events, a total of 222 medals will be awarded to the athletes next February. Five sets will be set aside in case of a tie, 25 will be submitted to the International Olympic Committee (IOC) and seven will be displayed in Korea.

PHOTOS: Winter Olympic medals of the past

Below is a full transcript of PyeongChang 2018 Organizing Committee President Lee Hee-beom's remarks during the ceremony in Seoul:

"Today marks a monumental milestone in our journey towards PyeongChang 2018. I would like to thank everyone who came here to celebrate with us.

"The Olympic medal is a symbol that will be remembered throughout history of the Olympic Games. The medals for PyeongChang 2018 that will be revealed to the world today, will go a long way with the title 'PyeongChang', and is a product of the aspiration and excitement of the Korean people.

"The medals for PyeongChang 2018 were created with Korea's unique 'Hangeul (Korean alphabet)' as its motif. Just as consonants and vowels of 'Hangeul' is combined together to express all the sounds needed, the medals for PyeongChang 2018 were created with the dream to bring the world together on the stage that is 'PyeongChang', with a collective call for peace.

"The moment when the name 'PyeongChang' was echoed across the meeting hall in Durban, Republic of South Africa in 2011 is vividly remembered by the Korean people. It has aready been seven years since then. From that moment on, many have worked hard with one goal in mind: success of the first Winter Games held in Korea. Now we have 141 days to go until the cauldron is lit at the Olympic Stadium, signaling the start of the Games.

"The Republic of Korea successfully hosted the Seoul 1988 Summer Games that brough the West and East together, and then culminated yet another success by making the World Cup 2002 a celebration of people around the world. Once again, we will bring the PyeongChang 2018 Olympic and Paralympic Winter Games to a success, displaying the fundamental values of Olympism-peace and solidarity.

"With the Olympic medals for PyeongChang 2018 revealed today, the PyeongChang 2018 Winter Games are prepared to begin. We are fully geared toward preparing for the Olympic and Paralympic Games to promote the Olympic Spirit and boost the citizens' national pride."