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The Korean Grand Prix ( Korean: 코리아 그랑프리) was a
Formula One Formula One (also known as Formula 1 or F1) is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The World Drivers' Championship, ...
race held in
South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...
, from 2010 until 2013, when it was dropped from the Formula One calendar.


History

On 2 October 2006 it was confirmed that the event would take place in
2010 File:2010 Events Collage New.png, From top left, clockwise: The 2010 Chile earthquake was one of the strongest recorded in history; The Eruption of Eyjafjallajökull in Iceland disrupts air travel in Europe; A scene from the opening ceremony of ...
, and would be hosted by the Korea International Circuit, in Yeongam. It was also revealed that the race would be promoted by a public-private company. The deal was for seven years with a five-year option that would allow the race to be held until 2021. Despite this confirmation, the Korean Grand Prix was not included on any of the provisional 2010 calendars released by Formula One Management. Following approval of funding for the event, Korea was given the date of 17 October on the 2010 calendar published by the
Fédération Internationale de l'Automobile The Fédération Internationale de l'Automobile (FIA; en, International Automobile Federation) is an association established on 20 June 1904 to represent the interests of motoring organisations and motor car users. It is the governing body for ...
(FIA) on 21 September 2009. On 10 December 2009, the organisers of the event announced that they were on schedule, with a plan to finish the circuit on 5 July 2010, though they admitted that their largest problem lay in finding accommodation for all Formula One staff and spectators. The organisers also ruled out the possibility of staging the race at night until they have more knowledge of and experience in running a Grand Prix. Despite all the confirmation there was still a risk that the circuit might not be on time, however this was denied by the race promoter who said that the circuit was ahead of schedule. After several postponements, the FIA scheduled a final inspection of the circuit on 11 October 2010, 13 days before the Korean Grand Prix was scheduled to begin. After the FIA inspection, Race Director Charlie Whiting declared that the race would go ahead. In 2011, organisers of the Korean Grand Prix expressed dissatisfaction over the terms of their contract with
Bernie Ecclestone Bernard Charles Ecclestone (born 28 October 1930) is an English business magnate. He is the former chief executive of the Formula One Group, which manages Formula One motor racing and controls the commercial rights to the sport, and part-owns D ...
and Formula One Management, particularly with regards to the cost of race-sanctioning fees, and sought to renegotiate the contract, seeking more-favourable terms. However, Ecclestone ruled out renegotiations, stating that the initial negotiation process had been difficult enough, and that the organisers were aware of the terms of the contract when they first signed it. Ecclestone has stated that in the event that race organisers could not pay sanctioning fees, the Korean Grand Prix would be removed from the calendar. The final calendar, released in December 2011, kept the Korean Grand Prix. After the
2012 Australian Grand Prix The 2012 Australian Grand Prix (formally, the 2012 Formula 1 Qantas Australian Grand Prix) was a Formula One motor race held on 18 March 2012 as the opening round of the 2012 Formula One season. It was the 77th race in the combined history of the ...
, organisers of the race in Korea announced that they had reached a new deal with Formula One Management that would save $20.5 million ( 23 billion) in costs. Kang Hyo-seok, director of race organisation for the Korean Grand Prix, admitted that the race was still 'too expensive' for Korea, anticipating an estimated loss of $26 million (₩29 billion) in 2012. The race went ahead in 2013.


Cancellation

A preliminary calendar for the 2014 season listed a provisional date for the Korean Grand Prix, but the race was omitted from the final calendar for 2014. Initially, the race was not included in the provisional 2015 calendar, a later calendar released in December 2014, gave the Korean Grand Prix a slot on 3 May 2015, having been moved from towards the end of the calendar in previous years, towards the start of the calendar. On 12 December 2014 Bernie Ecclestone said that Korean Grand Prix had to be added to 2015 calendar for legal reasons, citing contract obligations, but that organizers were not keen on having the race. Later it was announced that it had been removed from the calendar by the FIA because the organisers did not wish to host it. They had plans to revive the Korean Grand Prix in 2016, but these also failed to materialise.


Winners

All Korean Grands Prix were held at Yeongam.


See also

*
Korea Super Prix The International Formula 3 Korea Super Prix was a Formula Three race held annually on the streets of Changwon, Republic of Korea between 1999 and 2003. The event enjoyed brief success as a sister 'flyaway' event to complement the season-ending Ma ...
, Formula Three race held annually in Korea between 1999 and 2003


References

{{Formula One races Formula One Grands Prix National Grands Prix Sport in South Jeolla Province 2010 establishments in South Korea Recurring sporting events established in 2010 Recurring sporting events disestablished in 2013 2013 disestablishments in South Korea