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Korean GP promoter puts F1 hosting chances at 50-50

The Formula One South Korean grand prix promoter has revealed that its chance of remaining on the 2014 calendar is 50-50.

Last week the FIA approved a provisional schedule for next year’s Formula One series, with Korea pencilled in for April 27 subject to circuit approval. However, the country’s grand prix has previously had poor attendance and makes a financial loss.

"We want to improve the current contract with Formula One Management. We are still negotiating with [its CEO Bernie] Ecclestone. We wish to have a satisfactory conclusion with Mr Ecclestone," promoter Won-Hwa Park told Sky Sports News ahead of this year’s race at the weekend.

Asked what chances he gave the race of taking place beyond this season, Park said: "I would say 50-50, but we are very much firm in continuously holding this event. We'd be glad to consider holding it as a night race with certainly better conditions from Mr Ecclestone. This circuit is far from downtown so we do not have any noise problem."