Korean Grand Prix to Continue Despite Financial Concerns

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}