Korean government gives the nod for F1 race
#1
09-18-2009, 08:00 PM
Korean government gives the nod for F1 race
Formula One news: Korean government gives the nod for F1 race - GPUpdate.net Formula One
South Korea continues to push for its first Formula One race next year and has now received extra backing from the government after two political parties passed the 'F1 Act', which supports the construction and management of the brand-new venue as well as providing extra financial support for the event.
Although the Korean Grand Prix has not appeared on provisional race calendars released by commercial rights holder Bernie Ecclestone's Formula One Management (FOM) thus far, the backing of the Grand National Party and Democratic Party has been described as a 'critical milestone' by event organisers.
"With the passing of the F1 Act and the construction of the circuit well above its progression rate, the dream of having an international motorsport circuit has become a reality for the motorsports community," explained Young-Cho Chung, CEO of race promoter KAVO (Korea Auto Valley Operation Company).
"By maintaining strong cooperative relationships with the central government and with the support on a national level, we will do our best to make the 2010 F1 Korean Grand Prix an event of unprecedented success."
South Korea continues to push for its first Formula One race next year and has now received extra backing from the government after two political parties passed the 'F1 Act', which supports the construction and management of the brand-new venue as well as providing extra financial support for the event.
Although the Korean Grand Prix has not appeared on provisional race calendars released by commercial rights holder Bernie Ecclestone's Formula One Management (FOM) thus far, the backing of the Grand National Party and Democratic Party has been described as a 'critical milestone' by event organisers.
"With the passing of the F1 Act and the construction of the circuit well above its progression rate, the dream of having an international motorsport circuit has become a reality for the motorsports community," explained Young-Cho Chung, CEO of race promoter KAVO (Korea Auto Valley Operation Company).
"By maintaining strong cooperative relationships with the central government and with the support on a national level, we will do our best to make the 2010 F1 Korean Grand Prix an event of unprecedented success."
#2
09-18-2009, 08:31 PM
With all the likes of Renault and BMW leaving F1 and the expansion to the possibility of having 13 teams/26 cars on the grid how cool would it be to see Hyundai enter F1. If the cost cutting measures could entice them that would be awesome for the sport.
#4
09-18-2009, 09:07 PM
it is a bit frustrating, majority of the money comes from the US for the world's GP, however... this is a nascar nation (I ****'n hate nascar)
if there was a US GP which city would have it? NY? LA? Seattle? 
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