Korea eyes F1 return with Seoul night race
South Korea's first foray, at the desolate, highly unpopular and debt-making Yeongam circuit between 2010 and 2013, is now looked back upon as an unmitigated failure.
But Korean officials are now looking for a way back into F1, meeting with Bernie Ecclestone throughout the Singapore grand prix weekend.
Indeed, the publication Today reports that a Singapore-like city night race on the downtown streets of Seoul, the capital, is now on the cards for 2016.
"Today understands the Briton (Ecclestone) has warmed up to the proposal," said the correspondent.
The proposal is being led by Chung Yung-cho, who was also central to the original Yeongam project before he was dismissed by the race organizers.
A source said: "Chung showed Bernie prints of the proposed street layout and he liked it.
"They are now talking about the rights fee and have tentatively agreed to have a race in the city centre of Seoul in 2016.
"The business model for the Singapore grand prix is attractive, and if we can do the same in our city, it makes more sense for people to buy tickets to watch the race.
"I think it will work for Korea this time if Bernie and Chung can reach a deal," the source added.