The event at the Olympic Park was organised by the Korean Olympic & Sport Committee and Korea Sports Promotion Foundation.

The highlight of the ceremony was the unveiling for the "Wall of Glory", a monument engraved with the names of 1,488 workers from the Seoul 1988 Organising Committee and the 645 South Korean athletes who competed in the Games. 

The Wall also included dedication message to more than 27,000 volunteers who worked on the Olympic and Paralympic Games. 

Seoul 1988 featured 8,391 athletes from 159 nations, the largest-ever number of participating nations during the Cold War era and was the first Olympics since Montreal 1976 when both the United States and Soviet Union competed. 

The Games marked the last Olympic appearance for both the Soviet Union and East Germany as each had ceased to exist by the time of the next event at Barcelona four years later. 

Guests at the ceremony included Sergey Bubka, who won his only Olympic gold medal in the pole vault at Seoul 1988 and is now a member of the International Olympic Committee (IOC).

He was present to represent IOC President Thomas Bach, who was unable to attend the event.

Bubka was joined by another IOC member, Hungary's Pal Schmitt and Tamás Aján, President of the International Weightlifting Federation and an honorary IOC member.

Also present were South Korea's Sports Minister Do Jong-whan and Lee O-young, the creative director for the Opening and Closing Ceremonies at Seoul 1988. 

"During the 16 days of the Seoul Olympics, the indomitable spirit and enthusiastic passion of our athletes gave me great inspiration and courage to the people who were wary and worn out," Do said.

"Here in Seoul, countries from the East and West came together in hand for the first time in 12 years, overcoming ideological confrontation."

The ceremonial event included the video clips of the 1988 Olympics and South Korean medalists honoring volunteers and those who worked for the Bidding and Organising committees. 

"There was also a performance of Hand in Hand, the official song of the 1988 Olympics, by former athletes. 

The song, produced by Giorgio Moroder, sold more than 12 million copies around the world and topped the charts in 17 countries, including Austria, Hong Kong, Japan, the Philippines, Spain, Sweden, Switzerland and West Germany. 

"I can not forget the atmosphere of the Olympics," Lee Hyung-yong, chairman of the Seoul Olympic volunteers, told South Korean news agency Yonhap after the ceremony.

"When I wear this volunteer uniform, it feels like I've won a medal. 

"I feel thankful that people are recognising our efforts at the Olympics."