South Korea takes major step forward in plan to bring F1 back to nation

A nation which has not hosted a Grand Prix since 2013 has taken a major step forward in its aims to bring Formula 1 back to one of its major cities.

Ahead of the 2026 season, F1 action is due to take place in 19 different nations across five continents, with the US hosting three races – in Miami, Austin and Las Vegas – and Spain hosting two - in Barcelona and Madrid.

However, as things currently stand, Saudi Arabia and Bahrain are set to miss out this season, with the nations’ respective Grands Prix cancelled due to the ongoing conflict in the Middle East.

Meanwhile, the Imola race was dropped ahead of the current campaign before being replaced with the Madrid street circuit.

It appears that further circuits may be added to the calendar in the coming years, with F1 potentially returning to South Korea, with the Asian nation having been absent from hosting races since 2013.

Previously, Grands Prix took place at the Korean International Circuit in Yeongam, with Sebastian Vettel winning three of the four races between 2010 and 2013.

Since then, fans in East Asia have had to travel to neighbouring nations such as Japan to get their F1 fix, although this could soon be set to change.

As per Korean outlet Maeil Business, Incheon has announced a step towards hosting F1 events in the nation’s third-largest city.

A report, including details from the F1 Incheon Grand Prix Basic Initiative and Pre-validation Survey Service, has suggested that economic analysis found the central government will provide support for the proposed new track, which would likely generate billions in revenue from tourism while also creating around 4,800 jobs.

The analysis found if the race were to be held for five years, then the construction would satisfy economic feasibility.

An estimated 237.1billion Korean won (£135.5million) will be put forward by the central government and Incheon City to help support plans.

"Based on the results of this service, we will continue to consider attracting the competition by specifying the profit and cost structure with private promoters and F1 sides," the Incheon Metropolitan Government said.

Mercedes team principal Toto Wolff has already stated that he believes Korea is an “untapped market”, when speaking to Reuters last year.

"It has been a little bit of an untapped market for a while now, considering that Formula One has grown very strongly over the last few years, particularly in the younger target group," the Austrian said.

"You know, our fastest-growing demographic is young females from 15 to 24, and they are very active on social media.

"South Korea is an extremely social-media-connected country, so it would be great if we could come back and show how Formula One has changed over the last 10 years."

Previous reports suggested Incheon intended to host a street race in 2027, although it remains unclear if this is a possibility.