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.
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)
Korea GP organisers insist F1 'worthwhile' despite loss
- Published on 08 Oct 2012 16:08
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- By: Rob Veenstra
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M. Verstappen
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G. Russell
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L. Hamilton
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Bahrain International Circuit - Winter testing
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Feb 11
L. Norris
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Feb 12
C. Leclerc
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Feb 13
A. Antonelli
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Bahrain International Circuit - Winter testing
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Formula 1 Calendar - 2026
Date
Grand Prix
Circuit
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Spain
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Bahrain
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Bahrain
Formula 1 Calendar - 2026
Date
Grand Prix & Circuit
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Spain
Circuit de Catalunya
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Bahrain
Bahrain International Circuit
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Bahrain
Bahrain International Circuit
6 - Mar 8
Australia
Albert Park
13 - Mar 15
27 - Mar 29
Japan
Circuit Suzuka
10 - Apr 12
Bahrain
Bahrain International Circuit
17 - Apr 19
Saudi Arabia
Jeddah Street Circuit
1 - May 3
United States of America
Miami International Autodrome
22 - May 24
Canada
Gilles Villeneuve
5 - Jun 7
Monaco
Monte Carlo
12 - Jun 14
Spain
Circuit de Catalunya
26 - Jun 28
Austria
Red Bull Ring
3 - Jul 5
United Kingdom
Silverstone
17 - Jul 19
Belgium
Spa-Francorchamps
24 - Jul 26
Hungary
Hungaroring
21 - Aug 23
Netherlands
Circuit Zandvoort
4 - Sep 6
Italy
Monza
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