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Korea secures funding for F1 race

South Korea's hopes of hosting a round of the Formula 1 World Championship continue to gather pace after it was confirmed it would receive support from the government.

Concerns over whether South Korea could justify hosting an event had stalled development, but with the Korea Auto Valley Operation having already lined up half of the funding it needs to build and operate the circuit, the government have agreed to provide additional money and necessary legislation.

According to the JoongAng newspaper, the significance of the ruling suggests that legislators 'have finally reached consensus over the impact' of hosting an F1 race.

The circuit, which is already undergoing development south of the capital Seoul, was tipped to be included on the provisional 2010 Formula 1 calendar, but it didn't make an appearance.


Tagged as: race , south , korea , government

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localsavage - Unregistered

September 18, 2009 3:51 PM

Bernie's an ****! Why not Antartica plenty of room there. How about Venezuela they just got a bunch of oil money from China. He is doing what NASCAR did. First you abandon your fan base then you get dumbass politicians to build tracks with no soul which sellout the first year and then attendance drops every year after. California speedway is a perfect example for Nascar. It is surrounded by 10 million people and they cant even sellout a Cup race because the racing is like watching paint dry. How about we race at Spa every year you idiot!



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