South Korea Unveils Bid to Bring Back Formula One

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Seoul: South Korea has unveiled plans to bring Formula One back to the country for the first time since 2013, proposing a new street circuit in Incheon near the capital.

Officials said the proposed 5-kilometre circuit would host races in a financially sustainable way, though the project remains in its early stages and still faces several hurdles.

South Korea previously hosted the Korean Grand Prix from 2010 to 2013 at a purpose-built circuit in the south of the country. The event was later dropped due to high costs and limited domestic interest.

Incheon city officials said the new proposal aims to attract up to 400,000 visitors over a three-day race weekend.

Mayor Yoo Jeong-bok said the city is targeting 2028 for the first race under the new plan.

Officials added that the circuit design was inspired by successful urban races in Singapore and Las Vegas.

“It is possible to link the F1 Grand Prix, which has developed into a form of entertainment, with K-culture,” the proposal stated, suggesting a mix of motorsport, music and Korean entertainment.

Any return of Formula One would require approval from the national government, a commercial promoter and a slot on the already crowded F1 calendar.

Formula One Management declined to comment on the South Korean bid.

South Korea’s move comes as Asian countries continue to push for a bigger place on the Formula One calendar, with Thailand also exploring a future race bid.