Pirelli motorsport boss Paul Hembery has revealed that the tyre manufacturer is working towards a new five-year deal to remain as the official supplier for Formula One.

The FIA confirmed last week that Pirelli would continue in the role next year, with a statement issued by the World Motor Sport Council revealing that 'Pirelli may continue to supply tyres to competitors in the FIA F1 World Championship, subject to the requisite technical and safety standards of the FIA being met'.

The governing body also said a new tender process would be introduced for the tyre supply but speaking to reporters in Korea ahead of this weekend's Grand Prix, Hembery said Pirelli was working towards a deal that would see it continue in the role until the end of 2018 at least.

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"The only reason why some of the comments were a bit vague is that it's fallen in between the two agreements between the FIA and FOM," Hembery said. "So the role's changed slightly within that. We're in a transition phase, but we are working on five years.

"Bear in mind when we came into the sport [in 2011] it (the contract) wasn't signed until February of that year, so there are meetings still going on.

"Unfortunately, when you've got lots of different groups and lots of different lawyers involved there are lots of details, but the principles are all working."

Pirelli has agreed terms with F1 teams and FOM and is now working towards agreement with the FIA.