2010 has been named as the year when Formula
1 motor racing arrives in South Korea, with the
first Korean F1 set to join this world
wide sport. The arrival of the Korean F1 will see South
Korea once again on the world stage, with Korea also having
co-hosting the 2002 football World Cup.
The Korean F1 race has been confirmed and organizers
say that the intention is to build a formula 1 racing
circuit in South Cholla province in South Korea. The Korean
F1 track has been designed by Herman Tilke, with an estimated
£140 million pounds to build the track. The formula
1 circuit in South Cholla will be in Yeongam in the South
of Chollo (about 250 miles south of the capital of Korea,
Seoul).
In recent years, South Korea has come from nowhere to
become the 3rd biggest economy in Asia. Korea also is
known worldwide for its involvement with cars. Korean
car companies such as Hyundai and Daewoo are huge exporters
of cars worldwide 
and
Korean people themselves, traditionally always embrace
the opportunity to host worldwide sports events. South
Korea has also held the Olympics and is seeking in the
future to also hold the winter Olympics.
The Korean formula one agreement is a 7 year race deal,
a deal setup by Bernie Ecclestone and the Korea Auto Valley
Operation (KAVO) and the local Cholla-Namdo regional government.
In the last 5 years the number of F1 races has increased
and more races in Asia have been added to the formula
one calendar with Malaysia, Korea and the possibility
of India in the future.
More news on the Korean F1 will follow as more information
becomes available. Watch this space.
