After long preparations, we have learned the details of the project to bring the South Korean GP back to Formula 1. A new track is planned in the city of Songdo near Incheon. The organizers are aiming for a debut in the F1 calendar in 2028, and negotiations with Liberty Media are now ahead of them.
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Two years ago I wrote on the blog that a delegation from the city of Incheon in South Korea met with Stefano Domenicali during the 2024 Japanese GP, handing him a letter of intent regarding the desire to organize a Formula 1 race in the future. We then learned that they had been working on this for a year, hoping for a debut in the 2026 or 2027 season. At that time, the organization of a race modeled after the Las Vegas GP was announced, with a five-year contract, but specific details about the planned track were still missing. Earlier reports mentioned a permanent track on one of the islands, and a street circuit was also considered. Now we know specific details about the new racing circuit project in South Korea near Incheon, which in my opinion will be very appealing to Liberty Media.
Details of the plan to bring the South Korean GP back to Formula 1
The authorities of the city of Incheon in South Korea have been working for nearly three years on a concrete plan for organizing a Formula 1 race. Various locations and types of tracks were considered. During a press conference summarizing the “F1 Incheon Grand Prix Basic Initiative and Pre-validation Survey Service,” the city authorities on April 16 provided full details about the location, track configuration, and finances. Now they will have to reach an agreement with Liberty Media regarding the contract. The current goal of the organizers is to enter the F1 calendar in 2028, as earlier dates have become unrealistic for them.
According to the information presented at the press conference, the location chosen is in the new business city of Songdo, which is situated on an artificially created island near the city of Incheon (Incheon). In Poland, Songdo would simply be called a district. As we read on Wikipedia, “Songdo is intended to compete with cities such as Shanghai, Hong Kong, and Singapore.” This is also an important reason why a Formula 1 race will suit them very well.
During the press conference, it was stated that F1 race broadcasts reach 180 countries worldwide, which will provide the city of Incheon with huge promotion and is expected to bring 300,000 additional tourists annually. Incheon wants to join the ranks of the ten most important cities in the world thanks to F1 promotion – whatever that means. Tourism development is expected to provide 4,800 additional jobs. It is planned that along with the F1 visit, other major events will be organized locally, including concerts by local music bands (K-pop). City officials are aware that organizing the race also has negative effects, such as traffic disruptions and increased noise. They plan to build 1,800 meters of soundproof screens to separate the existing residential buildings from the track. They also have planned actions to improve communication during the F1 race organization.
From a business perspective, everything is based on a five-year contract with F1. The costs of preparing the track and organizing the race for five years are expected to be lower than the potential financial benefits for the city. Assuming private business involvement, the Korean government and the city will bear costs of 237.1 billion won (about 140 million euros). Formula 1, the Olympic Games, and the FIFA World Cup are three global sporting events. F1 provides the organizer with publicity every year; it is not a one-time event like the other two.
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The racing circuit was designed by the architectural office of Hermann Tilke with the participation of the Korea Institute of Industrial Development. The track length is to be 4.96 km, with 15 turns, an average speed estimated at 230 km/h, and a maximum speed of about 337 km/h. The design of this facility was inspired by existing venues in Singapore and Las Vegas. Not so much in terms of comparable configurations, but how these facilities were prepared in densely built cities. On the published diagram (I have not seen a more detailed one), the direction of travel is not marked, but in my opinion, it will be counterclockwise. The service road and paddock on the diagram below are marked in red, so if I read the direction correctly, the first turn will be right after heavy braking. Overall, the track layout looks fast and smooth, with three good overtaking spots at heavy braking zones.
The track will have space for a total of 120,000 spectators, with an expected weekend attendance of around 300,000 – 400,000 people. The location of the track within Songdo Moonlight Festival Park is expected to provide very good logistics, thanks to the nearby airport and metro line. The track will also guarantee very nice views, with the huge Incheon Bridge, Waterfront lake, and park nearby. In the background will be a modern city with skyscrapers.
If anyone wants to see what the current surroundings of the planned track look like, just click here; this is a link to Google Maps, centered on Songdo Moonlight Festival Park, around which the track is to be built. The area is currently undeveloped; they will use several existing roads but will also build completely new ones. From my observations, there are currently roads that form the lower, rectangular part of the track, as well as a curved “straight” in the upper part of the diagram. The rest will mostly be built from scratch. It will not be a typical street circuit, more like the type of facility currently being built in Madrid.
Summary
In my opinion, of all the potential candidates appearing in the media to enter Formula 1, South Korea is the best candidate for Liberty Media from a business perspective. There are many fans there, and the location in a large city will make the event successful, unlike the Korea International Circuit in Yeongam, where four races took place between 2010 and 2013. South Korea is a very wealthy country, with many potential sponsors and automotive companies that can enter F1 thanks to the race.
An updated table with the length of all track contracts for organizing F1 races can be checked here. All details about tracks and the calendar are here.
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