Korean Grand Prix

South Korea government has given the approval for Korean Grand Prix set to debut in 2010.

Despite not appearing on the current F1 provisional calendar, the World Motor Sport Council are due to announce the official 2010 calendar next month.

The two South Korean government parties of the ruling Grand National Party and the opposition Democratic Party has signed the “F1 Act”.

This Act entails the necessary approval for the government agreeing to help build F1 track, as funds will be released for the race.

The Korean Grand Prix is a planned Formula One race to be held in South Korea.

It would be hosted by the Korean International Circuit, and has also been revealed that the race will be promoted by a public-private company.

The deal is for seven years with a five year option that would ensure the race to be held until 2021.