user icon
user icon
icon
link-icon
<< Return to the news list
Korea GP organisers insist F1 'worthwhile' despite loss

Korea GP organisers insist F1 'worthwhile' despite loss

  • Published on 08 Oct 2012 16:08
  • comments 0
  • By: Rob Veenstra
South Korea has indicated it could keep organising an annual grand prix. Despite the Yeongam race only joining the F1 schedule in 2010 and having a contract through 2016, recent speculation suggested organisers are baulking at the financial losses.

But organiser Park Jong-moon has been quoted by the Korea Times as saying losses from "big sports events" are "inevitable". "Even the 1988 Seoul Olympics was a money-losing event, (but) it is worthwhile, considering other effects that were far greater than profit," he said. Park also said Bernie Ecclestone has agreed not to charge the usual 10 per cent fee increase for the 2012 race, which is taking place this weekend.
More about F1 News Can Racing Go Mainstream In The US?

Can Racing Go Mainstream In The US?

May 4
 <strong>LIVE Updates: </strong> Follow the third day of the F1 Pre-season test in Bahrain

LIVE Updates: Follow the third day of the F1 Pre-season test in Bahrain

Mar 14

But the Korea Times report said two main sponsors of the grand prix have pulled out. "After reviewing our corporate image and alternatives, we decided not to take the main sponsor deal this year," an official for POSCO, a Korean steel company, said. (GMM)
F1 News
<< Previous article Next article >>

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2021

Pos
Team
Points
1
Mercedes
584.5
2
Red Bull Racing
559.5
3
Ferrari
307.5
4
McLaren
269
5
Alpine F1
152
6
Alpha Tauri
119
7
Aston Martin
77
8
Williams
23
9
Alfa Romeo Racing
13
Show full world champion standings

Test calendar

Bahrain International Circuit - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Formula 1 Calendar - 2021

Date
Grand Prix
Circuit
-
Bahrain
26 - Mar 28
Bahrain
Bahrain International Circuit
16 - Apr 18
Italy
Autodromo Enzo e Dino Ferrari
30 - May 2
Portugal
Autódromo Internacional do Algarve
7 - May 9
Spain
Circuit de Catalunya
20 - May 23
Monaco
Monte Carlo
4 - Jun 6
Azerbaijan
Baku City Circuit
18 - Jun 20
France
Paul Ricard
25 - Jun 27
Austria
Red Bull Ring
2 - Jul 4
Austria
Red Bull Ring
16 - Jul 18
United Kingdom
Silverstone
30 - Aug 1
Hungary
Hungaroring
27 - Aug 29
Belgium
Spa-Francorchamps
3 - Sep 5
Netherlands
Circuit Zandvoort
10 - Sep 12
Italy
Monza
24 - Sep 26
Russian
Sochi Autodrom
8 - Oct 10
Japan
Circuit Suzuka
8 - Oct 10
Turkey
Istanbul Park
22 - Oct 24
United States of America
Circuit of the Americas
5 - Nov 7
Mexico
Autodromo Hermanos Rodriguez
12 - Nov 14
Brazil
Interlagos
19 - Nov 21
Qatar
Losail International Circuit
3 - Dec 5
Saudi Arabia
Jeddah Street Circuit
10 - Dec 12
United Arab Emirates
Yas Marina Circuit
See full schedule

Formula 1 Calendar - 2021

Date
Grand Prix & Circuit
-
Bahrain Bahrain International Circuit
26 - Mar 28
Bahrain Bahrain International Circuit
16 - Apr 18
Italy Autodromo Enzo e Dino Ferrari
30 - May 2
Portugal Autódromo Internacional do Algarve
7 - May 9
Spain Circuit de Catalunya
20 - May 23
Monaco Monte Carlo
4 - Jun 6
Azerbaijan Baku City Circuit
18 - Jun 20
France Paul Ricard
25 - Jun 27
Austria Red Bull Ring
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
Belgium Spa-Francorchamps
3 - Sep 5
Netherlands Circuit Zandvoort
10 - Sep 12
Italy Monza
24 - Sep 26
Russian Sochi Autodrom
8 - Oct 10
Japan Circuit Suzuka
8 - Oct 10
Turkey Istanbul Park
22 - Oct 24
United States of America Circuit of the Americas
5 - Nov 7
Mexico Autodromo Hermanos Rodriguez
12 - Nov 14
Brazil Interlagos
19 - Nov 21
Qatar Losail International Circuit
3 - Dec 5
Saudi Arabia Jeddah Street Circuit
10 - Dec 12
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar