South Korea still pushing for 2010 race
South Korea's hopes of holding its first Formula 1 race next year have received a big boost with the government this week passing legislation to approve funding for the race
Although South Korea's event has not appeared on provisional calendars shown to F1 teams so far, the country is pushing ahead with its ambition to hold a grand prix.
And its preparations have stepped up a gear after the governing Grand National Party and Democratic Party passed an 'F1 Act' this week that support the construction and management of the venue, plus calls for financial support from the administration.
The act means that central government will fund any shortfall in the budget to build the track, with finances having so far been raised through private investment.
Young-Cho Chung, the CEO of race promoters Korea Auto Valley Operation, said: "With the passing of the F1 Act and the construction of the circuit well above its progression rate, the dream of having an international motor sport circuit has become a reality for the motor sports community.
"By maintaining strong co-operative 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."
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