- Korean Grand Prix
Work on city element of Korea circuit to start in 2011
Korea's plans to build a city in the middle of the new Formula One circuit in Yeongam are on track to start next year.
Current aerial photos of the harbour-side venue depict a bland setting, with much of the surrounding area resembling a construction site. But the final plans for the third sector of the 5.6 kilometre are intended to rival the likes of Singapore and Monaco.
According to the Korea Herald newspaper, the government announced on Monday that it has approved plans for the leisure-themed corporate city. The $1.67 billion plans, to transform the area into a motorsport and tourism city by 2021, were lodged by the provincial authorities and race promoter Korea Auto Valley Operation.
The Ministry of Culture, Sports and Tourism said construction is likely to start in the second half of 2011. When finished the city should be able to accommodate 10,000 residents and 4,000 households.