JANUARY 14, 2011
Korean GP organiser fired
The chief organiser of South Korea's first F1 Grand Prix race has been fired. At an emergency board meeting of the shareholders of the Korea Auto Valley Operation (KAVO), chief executive Chung Young-Cho was voted out.
KAVO is a joint venture between the South Jeolla province and a private company, formed to host the Grand Prix. South Korea's first F1 race was held last November after a panicked, last-minute effort to finish the facilities in time.
A provincial official has been quoted saying, "Investors felt that KAVO's management under Chung couldn't guarantee success this year."
Cho's replacement is Park Won-Hwa, former South Korean ambassador to Switzerland.