This competition exists out of two rounds, each with four teams. The two teams with the fastest times in each semifinal advance to the final, while the remaining teams advance to the B final, with confirmation of a jury. The fastest team in the final is the winner of the event.
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Eight teams qualified for the event with the Netherlands and South Korea as the big favorites for the title. The Dutch was the reigning world champion and held the Olympic record and world record, after having to find solace in the B final in 2018. South Korea won gold in the women's relay in their home country in 2018 and were looking to defend their title. The field also included Canada, China, and Italy as the entire top 5 of the world rankings, and the remaining teams ROC, the United States, and Poland could also race into contention for them medals.
Florence Brunelle was the youngest athlete to compete at the age of 18, and was almost a year younger than Zhang Chutong, followed by Anna Vostrikova and Seo Whi-min. Four competitors were also born in the 21st century, with in total 12 athletes born after 1 January 2000. Patrycja Maliszewska was the oldest competitor in the field aged 33 and she would be making her third appearance at the Olympic Games, after 2010 and 2014. She was over two years older than Arianna Fontana and Yara van Kerkhof, who both had plenty of Olympic experience. Fontana was starting her fifth appearance at the Olympic Games, followed closely by her team mate Martina Valcepina. Five athletes were due to make their third appearance, with seventeen making their Olympic debuts.
The Netherlands won the gold medal after setting a new Olympic record in the final, and took a second consecutive medal in the event, after a bronze medal in 2018, when they set a new world record in the B final. From that team, Suzanne Schulting won her fifth Olympic medal and Yara van Kerkhof completed her set of medals, after also having won silver in the 500 metres in 2018. Xandra Velzeboer and Selma Poutsma won their first Olympic medals at their Olympic debuts. 2018 Olympic champions South Korea missed out on gold after winning the title in 2014 and 2018, with Choi Min-jeong, Kim A-lang, and Lee Yu-bin having been part of the success team of 2018, while Seo Whi-min made her Olympic debut with a silver medal. China won their first medal in the women's relay since winning gold in 2010, with Fan Kexin, though the team had also won gold in the mixed relay. Fan Kexin won her third Olympic medal, after winning silver in the 1000 metres in 2014, Qu Chunyu, and Zhang Yuting won their second medals after the mixed relay, and Han Yutong and Zhang Chutong won their first medals at the Olympic Games. 2010 and 2014 silver medalists Canada finished just outside of the medals, while 2018 silver medalists Italy finished first in the B final to complete the top 5.
China
Poland
Italy
Canada
South Korea
ROC
United States
