It would take another year for the circuit to be considered properly complete.įinal construction costs were announced as around $77 million (88 billion won) – some way in excess of the 52.8 million won original funding raised. The smell of fresh paint permeated the pit buildings and the track surface was actually only complete up to the first layer. Nevertheless, when the F1 circus arrived, they found work still continuing. The FIA track inspection was delayed several times while final works were completed, and the circuit was only given official approval 11 days before the first F1 race. On 4 September 2010, in an event called 'Circuit Run 2010', a Red Bull Racing Formula 1 show car with Karun Chandhok at the wheel completed 14 laps of the circuit, with 4,000 fans in attendance. Despite this, organisers for the race announced the circuit's opening date to be 5 September 2010.
Uniquely, it was intended from the outset that the circuit would be part urban street course and part permanent venue, with the permanent facilities in the north being used for events year round and the southern half, complete with F1 standard pit and paddock facilities, would be used for the yearly visit of F1 only.Īround the southern circuit it was envisaged a village of hotels, restaurants and marinas would spring up, to create a harbour-side atmosphere similar to Yas Marina, the Valencia street course or Monaco.Ĭonstruction appeared to be on schedule in December 2009, but then a long period of poor weather hampered proceedings, leading to speculation that the track would not be complete in time.
On a largely flat parcel of land, Tilke proposed a typical mix of overtaking-friendly sharp hairpins plus a couple of quick corners. Hermann Tilke was employed to design the facility, as has become customary for F1 venues. Work was slated to finish in July 2010, in time for the first Grand Prix in October. KAVO announded in September 2009 that the funding was in place to start construction at the site, and officials were confident the work would be completed in time to hold a Grand Prix in 2010. The original deal wit Korean F1 promoter Korea Auto Valley Operation (KAVO – a joint venture between M-Bridge Holdings and Jeollanam-do regional government) was for $264 million and would see F1 visiting until 2021. It seems likely that Formula One will not return and so the circuit is set to be a regional and domestic venue only for now.īringing a Grand Prix to South Korea had long been an objective for Bernie Ecclestone, but following a previous abortive effort at Sepoong, a deal was finally struck for the race to be held at a new harbour-side venue in Yeongam, South Jeolla, some 400 kilometres south of Seoul and near the port city of Mokpo. The Korea International Circuit has had a troubled start to life, bursting onto the F1 scene in 2010 but dropped from the calendar after just four events. There are improvements to be made, not least in the consistency of decisions by stewards and the role of race director Michael Masi.Address: Korea International Circuit, Jeollanam-do, Yeongam-gun, Samho-eup, Sampo-ri 745, South Korea The Briton came to the fore as a role model, sporting in defeat, and campaigner standing up for equal rights and diversity. The jury remains out on that but not on Verstappen - winner of 10 races this year and on the podium a record 18 times in a single season - or Hamilton, who remains a fearsome and outspoken competitor at 36. Next season will see revamped regulations and new-looking cars designed to improve overtaking. and the amount of new fans that we've welcomed into the sport has been astounding." Formula One's popularity has gone through the roof. "I don't think even a Hollywood scriptwriter could have come up with the ins and outs of this year. Institutional Distribution IntelligenceĪsked about Formula One chief executive Stefano Domenicali's first year in the job, Horner told reporters: "I think he needs to buy Red Bull an enormous Christmas hamper for the excitement, for the racing, for the drama that he's had in charge.Non-Traditional Exchanges & New Markets.