Korean Formula 1 Grand Prix - Epreuve World Championship Formula 1 - 2012

The Korean International Circuit will be the venue for the Korean Grand Prix, a 5.62 km (3.49 mile) race circuit located in Yeongam County (400 kilometres south of Seoul), South Jeolla province 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 has been given the responsibility of the design of the track. Planned completion is July 2010 and 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.

It was announced on September 2, 2009 that the funding was in place to start construction at the site, and officials are confident the work will be completed in time to hold a Grand Prix in 2010. On December 10th 2009, the organisers of the event announced that they were on schedule, with a plan to finish the circuit on July 5, 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.

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