JULY 15, 1996
F1 heading to Korea in 1998
The Sepoong Group has backing from the Korean government and from provincial authorities in the Chollabuk-do region to build a large recreational complex which will be centered on a motor racing circuit. The track will be 2.8 miles in length and has been designed with the help of Tyrrell's Dr. Harvey Postlethwaite. It will be surrounded by a golf course, a water sports center, an amusement park, a museum and hotels. There are also plans for exhibition centers and technology parks. If everything goes to plan it will be similar in concept to the facilities at Suzuka, in Japan.
Chollabuk-do has been chosen because it is currently the fastest growing region in Korea with car companies Hyundai, Daewoo and Samsung all building new plants in the area.
The deal has been put together by British company Motor Racing Services and Ecclestone has visited the site and agreed the basic track layout.