Mr Cho said he wanted to focus on “urgent matters” with his business group, which includes the struggling Hanjin Shipping carrier, the Yonhap news agency reports.
The agency said Mr Cho, who took on the role in 2014, was nearing the end of his two-year term.
The Games are due to take place in Pyeongchang in February 2018.
The International Olympic Committee (IOC) said in March this year it was confident South Korea’s preparations were “moving in the right direction”.
Mr Cho said he had “truly put forward my very best efforts to work with every member of the organizing committee to prepare a successful Olympic and Paralympic Winter Games in 2018.”
He said he would “continue to support Pyeongchang through to the Games in 2018”.