Promoter Korea Auto Valley Operation (KAVO) said that the track in Yeongam-gun, Jeollanam-do, was now 66 per cent complete, and would be fully finished in June or July. Its first Formula 1 race is scheduled for 24 October this year.

“The representative facilities of the circuit are in very good progress,” said KAVO CEO Yung Cho Chung.

“The racing track itself is at 70 per cent completion rate and the main grandstand currently stands at 80 per cent.

“The Formula 1 track is now visible. It may be completed in June at the earliest.”

The 3.493-mile Korea International Circuit will be the country’s first FIA approved international racetrack.

KAVO said it was focusing its efforts on ensuring that the facilities that will be used for F1 were ready first, as the venue will also feature a layout for use by other championships.

“McLaren boss Martin Whitmarsh has questioned the wisdom of including a Korean Grand Prix on next year’s Formula One calendar”.

Whitmarsh revealed that the Formula One Teams’ Association have reservations about adding a sixth race in Asia following reports there could be a shortage of facilities.

“We hear stories it’s four or five hours from anywhere, there’s no infrastructure, no hotels, no-one can get there. It’s going to make it difficult for fans and difficult for media, We’re meant to be doing it for the fans and other people. My personal opinion is that we’ve got other priorities.” he said.

Stand at the South Korean GP Circuit

It’s GO GO GO for the South Korean Formula 1 Grand Prix.

South Korea will host its first grand prix next year after being listed on a 19-race calendar published on Monday.

The event will be held in Yeongam in the south-west of the country. South Korea is spending millions of dollars on the track in Yeongam county and officials are confident the Korean Grand Prix, set for October 17, will quickly make its mark.

Renowned German track designer Hermann Tilke is supervising the project launched by the Korea Auto Valley Operation (KAVO), a joint venture between private firm M-Bridge Holdings and the South Jeolla provincial government.

Work is in progress at the 5.6km site, 320km south of the capital Seoul, where seating to accommodate 135,000 spectators is being built. Organizers say the main circuit will include Asia’s longest straight stretch of 1.2km which will allow speeds of up to 320km per hour.

The 5.6-kilometre (3.5 mile) circuit is being constructed on 172 hectares (425 acres) of reclaimed land alongside an artifical seaside lake.

A separate three-kilometre circuit will be used for domestic events.

Korean Circuit in progress

KAVO will host the F1 race once a year for seven years under the FIA deal, with an option to extend for five years if arrangements are satisfactory.

The rest of a total 434 billion won needed to build a racetrack and run the event would be covered by the organiser’s capital and public subsidy, KAVO said.

The 3.4 mile track, designed by Hermann Tilke, is under construction in the southwestern region of South Cholla Province.