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F1 Yeongam Live Stream South Korean Grand Prix Online Feed

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The Korean Grand Prix is a Formula One race held in South Korea. After months of speculation, on October 2, 2006 it was confirmed that the event would actually take place in 2010, and would be hosted by the Korea International Circuit. It 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.

Despite this earlier confirmation, the South Korean Grand Prix was not included on any of the provisional 2010 calendars floated by Formula One Management. Following approval of funding for the event, however, Korea was given the date of 17 October on the 2010 calendar published by the Fédération Internationale de l'Automobile (FIA) on 21 September 2009. The Korea International Circuit is a 5.62 km (3.49 mi) motorsport circuit located in Yeongam, South Jeolla, South Korea, 400 kilometres south of Seoul and near the port city of Mokpo. It is the venue for the F1 Korean Grand Prix after a $264 million (250 billion won) deal between Bernie Ecclestone and the Korean F1 promoter Korea Auto Valley Operation (KAVO – a joint venture between M-Bridge Holdings and Jeollanam-do regional government).

Organisers of the Korean Grand Prix have expressed dissatisfaction over the terms of their contract with Bernie Ecclestone and Formula One Management, particularly with regards to the cost of race-sanctioning fees, and have sought to renegotiate the contract, seeking more-favourable terms. However, Ecclestone ruled out renegotiations, stating that the initial negotiation process had been difficult enough, and that the organisers were aware of the terms of the contract when they first signed it. Ecclestone has stated that in the event that race organisers can not pay sanctioning fees, the Korean Grand Prix will be removed from the calendar. The final calendar released in December kept the Korean Grand Prix intact. Shortly after the Australian Grand Prix, organisers of the race in Korea announced that they had reached a new deal with Formula One Management that would save $20.5 million in costs. However, Kang Hyo-seok, director of race organisation for the Korean Grand Prix, admitted that the race was still far too expensive for Korea, anticipating an estimated loss of $26 million in .

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