It's Olympic time!

Fireworks explode over the Olympic Stadium during a rehearsal for today's opening ceremony for the 2012 London Olympics, Wednesday. A total of 245 Korean athletes will compete in 22 sports in the city where Korea made its maiden Olympic appearance. The games will run through Aug. 12./ AP-Yonhap

By Kim Jisoo

The 2012 London Olympic Games will today officially begin its run through Aug. 12.

The city will host over 10,000 athletes from 204 countries.

A 374-member Korean contingent is currently in London.

Korea aims to earn at least 10 gold medals and aims for a spot in the top 10 rankings.

Will swimmer Park Tae-hwan repeat his gold-medal performance of Beijing in the 400 meters? Can vault gymnast Yang Hak-seon bring home the nation's first gold in gymnastics? Will weightlifter Jang Mi-ran overcome injury to win again?

What about Usain Bolt, the world's fastest man? Which country will win the football gold medal?

There are other many questions that we will see answered as the London Games progress.

Besides the athletes' performances, the 2012 Games carries a special meaning for Korea.

The 1948 Olympics in the British capital was the first time Korea participated in the quadrennial games since its 1945 liberalization from Japanese colonial rule. At that time, Korea was one of the poorest countries in the world.

Now, on its return to the same city, the country has undergone a miraculous economic development. It hosted the Summer Games in Seoul in 1988 and is designated to host the 2018 Winter Olympics in PyeongChang. What a difference two generations makes!