Korean GP organiser rates race's future as '50-50' amid contract renegotiations

Promoter also open to possibility of a night race

By James Galloway.   Last Updated: 02/10/13 5:27pm

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The promoter of the Korean GP says race officials are working on striking a better deal on the terms of their Formula 1 contract and has rated the country's chances of staying on the calendar for 2014 as "fifty-fifty".

Although Korea, in a revised April slot, was included on the provisional 22-race calendar for next season released by the FIA last week, the event was one of three races on the schedule listed as being provisional.

Doubts over the long-term viability of the Yeongam race, which will stage its fourth edition this weekend, have swirled for several seasons with organisers having made no secret of the fact that the race, which is poorly attended, has run at a significant financial loss.

Korea's position on next season's definitive calendar is thought to be particularly vulnerable but race promoter Won-Hwa Park insists the country is still determined to stay on the schedule.

"We want to improve the current contract with Formula One Management. We are still negotiating with Mr Ecclestone. We wish to have a satisfactory conclusion with Mr Ecclestone," he told Sky Sports News

Asked by Craig Slater what chances he gave the race of taking place beyond this season, Park replied: "I would say 50/50, but we are very much firm in continuously holding this event."

The race promoter also suggested the circuit would be open to converting the race into a night-time event, provided the financial terms of the deal were right.

"It's a great idea. We'd be glad to consider to hold it as a night race with certainly better conditions from Mr Ecclestone," he added.

"This circuit is far from downtown so we do not have any noise problem."

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