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doggyji
Joined: 21 Feb 2006
Location: Toronto - Hamilton - Vineland - St. Catherines
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 Posted: Thu Sep 28, 2006 2:34 pm Post subject: F1 in Korea from 2010 |
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Good news for GP fans.
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South Korea has reached an agreement with Formula One Management to host a Grand Prix from 2010, autosport.com can reveal.
The Korea Auto Valley Operation (KAVO) - a joint-venture between the Jeollanam-do province government and official F1 promoter company M-Bridge Holdings - will hold the signing ceremony in ten days in Seoul.
The ceremony and following press conference, scheduled for October 2 - the day after the Chinese Grand Prix - will be attended by F1 supremo Bernie Ecclestone and his wife Slavica, and Renault F1 CEO Flavio Briatore.
South Korea has been on Ecclestone's radar for a decade now, with the Briton wishing to expand Formula One's reach to new markets and globalise the sport even more.
Ecclestone struck a deal in 1996 whereby the Sepoong circuit would have the exclusive rights to hold Grand Prix races in South Korea from 1998 to 2002.
However, a race site was never developed and subsequently Ecclestone won a court case against the Sepoong Engineering Construction company, which saw it pay FOM �7.5 million (UKP) despite not staging a race.
But now, with government support and a new company in place, KAVO officials are confident a South Korean Grand Prix will become a reality - subject to FIA approval of the track and facilities, once construction is completed. |
http://www.autosport.com/news/report.php/id/54605 |
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jaebea
Joined: 21 Sep 2003
Location: SYD
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| Posted: Thu Sep 28, 2006 3:52 pm Post subject: |
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Potential is there, but I think it'll be a fleeting thing. Until the organising body can show it can deal with large events (perhaps with CART/IRL) then I think it'll be another case of an event in limbo.
If the circuit is just another ho-hum flat tack ring like the majority of new F1 venues nowdays, then it's not going to be much of a spectacle anyway. I'd like to see something that takes advantage of the mountainous terrain and has some decent elevation changes.
jae. |
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jinju
Joined: 22 Jan 2006
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| Posted: Fri Sep 29, 2006 4:38 pm Post subject: |
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| jaebea wrote: |
Potential is there, but I think it'll be a fleeting thing. Until the organising body can show it can deal with large events (perhaps with CART/IRL) then I think it'll be another case of an event in limbo.
If the circuit is just another ho-hum flat tack ring like the majority of new F1 venues nowdays, then it's not going to be much of a spectacle anyway. I'd like to see something that takes advantage of the mountainous terrain and has some decent elevation changes.
jae. |
Thats why Spa was the best track in F1 history. |
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VanIslander
Joined: 18 Aug 2003
Location: Geoje, Hadong, Tongyeong,... now in a small coastal island town outside Gyeongsangnamdo!
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| Posted: Fri Sep 29, 2006 7:35 pm Post subject: |
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I saw the Formula-3 race in Changwon a couple of years ago. It was alright, lots of people watching but by no means packed. It is no longer held because of costs to ship cars up here from Singapore I think or some place close to there on the curcuit.
But I always thought Korean companies have the capital and willingness to sponsor the F1 as an event, put Korea on the map in a sport about speed bali bali faster than another. And high-tech engineering. And presteige. It's a natural fit. |
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matthews_world
Joined: 15 Feb 2003
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| Posted: Fri Sep 29, 2006 8:39 pm Post subject: |
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I knew racing girls were here for a reason.  |
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just because
Joined: 01 Aug 2003
Location: Changwon - 4964
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| Posted: Fri Sep 29, 2006 9:55 pm Post subject: |
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It is basically a Memorandum of Understand(MOU)... he has these with several countries that are currently trying to host an F1 race..
I have major doubts that the F1 will be here in 2010 if to be honest, ever.
FIA is very wary of Korea at the moment with the CART racing debacle from 2004 where a round was scheduled in Seoul but was cancelled with only 1 month before it was scheduled because the hosting company went bankrupt....
Another reason is the FIA gave Korea a test in the form of a F3 sanctioned race after Macao(here in Changwon) and it didn't really prove to be popular at all with not really much media attention or a big enough crowd showing to get F1 to host a race here with so many other countries showing much more keen interest...
Also another knock is the fact that the only touring car championship in korea just shut down this year due to lack of interest and sponsorship...there is no racing car culture here and with japan and China already holding a round in this region than it really isn't necessary to have on in Korea as well...
BTW...i saw the track, it is on flat reclaimed land and looks like it would be a very boring tight track. I'll see if I can find it somewhere |
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