South Korea will host its first formula one race in late 2010, after F1 supremo Bernie Ecclestone signed a contract at a hotel in downtown Seoul on Monday. The seven year deal, with options for five additional grands prix after 2014, includes the construction of the 'Korean International Circuit' in the south western South Cholla Province and the promotion of the race by a public-private company.
South Cholla's governor, Park Joon-young, revealed that the race will be held at Yeongam, a county about 400km from capital and biggest city Seoul. Construction of the 5.45 kilometre circuit will begin in 2007 and be completed by late 2009.
Find out more about the 2010 Korean Grand Prix here.