Korean GP Will Stay on F1 Calendar Till 2016.
Korean GP Will Stay on F1 Calendar Till 2016.
"Korean GP has a 7-year long contract with FOM and will stay on F1 calendar till 2016, as it was initially planned", told foreign journalists F1 Korean GP organizing committee Secretary General Park Jong Moon on Tuesday.
On September 25th, 18 days before Korean GP slated on October 12-14 local Organizing committee held F1 presentation at Seoul Foreign Correspondents Club attended by Reuters, BBC, Voice of America, DPA, Der Spiegel, Time and other major world media.
"Holding such a big and expensive event is not an easy task. But we're doing our best to attract more guests and hope that this year we'll see same or more number of guests as last year", said Mr. Park who looked a bit exhausted after 4-hours long trip from South Cheolla to Seoul. In 2011 Korean GP attracted about 200,000 viewers during 3 days of Championship.
On pic: Park Jong Moon at F1 presentation.
This year South Korean government eventually extended it's support and provided about 5 mln USD to cover some F1 track construction and operational expenses, said Shin Kon Sok, Director Gen. of Korean Organizing committee Cooperation Division who was specially dispatched to Yeongam, where F1 races are held, by SK Ministry of culture, sports and tourism. One of the main problems, Mr. Shin shared with F1 Fan Club, is lack of major sponsors. "Budjet is not enough", he said slightly sadly.
This year main sponsors will remain almost the same as last year - car oil & gas producing SK group, DHL and others. Big conglomerates and local automakers like Hyundai and KIA are not in a hurry to get invlolved into expensive and risky, though exciting, F1 business.
Always optimistic Sec. Gen. Park Jong Moon gave some figures to prove that F1 races can be profitable in a short term. Holding F1 races in Korea costs about 25 mln USD while 35 mln USD is expected to be spent by guests on food, drinks and accomodation in or around F1 track area. Organizers admitted that it's hard to get direct profit. F1 is more about indirect profit such as cultural development of South-West region & Korea and rising national image and pride. Still they hope to start getting direct profit from F1 next year.
The answer of Sec. Gen. Park to traditional question by Fan 1 Fan Club, when SK driver will be ready participate in F1 was unexpected: though it'd take about 2-3 more years to prepare the first F1 driver, there are several Korean drivers who are currently intensively racing at junior series like GP2, GP3 and F3.
On pic: Sec. Gen Park is talking to BBC Seoul corr. at F1 presentation.
F1 Korean GP will be held at Yeongam F1 range on October 12 - 14 and after Sunday race funny singer PSY, who instantly became famous recently, will give a FREE concert at F1 track.
Video: parody on PSY song "Gangnam style".
Pics and text: F1 Fan CLub Korea, Sept 25, 2012.
