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Nov 22

Another big loss for Korean GP

The latest loss is $36 million, according to the Yonhap news agency

2012-10-14 - Mercedes AMG Petronas F1 Team - Korea International Circuit 012012-10-14 - Vodafone McLaren Mercedes - Korea - Lewis Hamilton 08There are worrying signs for the future of the new Korean grand prix, with organisers admitting yet another big financial loss for the October race.

The 2012 edition of the Yeongam event was the third since 2010, and all of them have recorded big losses.

The latest loss is $36 million, according to the Yonhap news agency.

“Just because the loss was reduced, I am not sure we can call this year’s race a success,” said South Jeolla council member Seo Dong-wook.

“We will need to take some fundamental steps to change it.”

source: GMM