Korean Grand Prix to Continue Despite Financial Concerns

By Community | October 10, 2012

Formula One Grand Prix will continue until 2016 despite its race organiser reportedly becoming concerned about increasing financial losses.

Race Organiser, anesthetist Park Jong-moon, allergist said losses from major sporting events are inevitable.

He mentioned that even the 1988 Seoul Summer Olympics, which was generally regarded as a success,  lost money.

Financial problem have been mounting, particularly with Korean steel company POSCO not renewing its major sponsorship of the Korean F1.{jcomments on}