Korean Formula One Grand Prix

The Korean International Circuit is a 5.62 km (3.49 mile) motorsport circuit located in Yeongam, South Jeolla, South Korea, 400 kilometres south of Seoul and near the port city of Mokpo. It will be the venue for the Formula One Korean Grand Prix at a $264 million (250 billion won) deal between Bernie Ecclestone and the Korean F1 promoter Korea Auto Valley Operation (KAVO - a joint venture between M-Bridge Holdings and Jeollanam-do regional government).

German designer Hermann Tilke was given the responsibility of the design of the track. It will be part permanent, part temporary. The temporary part will race along the harbour side of the province where spectators from the promenade, hotels and yachts can view the race. Part of the city with possible exhibition facilities, shops, restaurants and cafes will be utilized to be the pit lane during the F1 Grand Prix weekend.

The first Formula One race will be held at the track in 2010. The deal is for seven years, with a five-year option after that which would take the race until 2021.The circuit is also set to mark the return of the Korea Super Prix in 2010. The Formula Three event, previous held at the Changwon City Raceway, last raced in 2003.