The project is only at the planning stage, and Reuters reports that a recent draft version of the provisional 2010 calendar circulated at last weekend’s Belgian Grand Prix did not include the South Korean race.
Nevertheless, the proposed organisers, the Korea Auto Valley Operation (KAVO), said it had secured the 632 billion won in funding required to build the circuit and run the event. The funding includes 198 billion won from nine local lenders, and 434 billion won from the organisers and public subsidy.
The circuit is already under construction in South Cholla province, in the southwest of the country.
