Incheon to Complete Preliminary Feasibility Study for Hosting 'F1 Grand Prix' by January Next Year

On November 20, the Incheon Metropolitan Government announced that it plans to complete the basic planning and preliminary feasibility study for hosting the world-renowned Formula 1 (F1) Grand Prix by January next year.

This study, which began in June this year, includes the development of a circuit design concept, the establishment of a basic plan, and a preliminary feasibility review. The project is being jointly carried out by the Korea Industrial Development Institute and Tilke, a company specializing in circuit design.

Once the study is completed, the city plans to request national-level support from the government and gradually proceed with the process of attracting the F1 Grand Prix, including discussions on forming an official promoter responsible for planning and operating the event.

The city is considering hosting the first F1 Incheon Grand Prix in 2027 and then holding the event annually for at least five years. Unlike the races in Japan or China, which are held at dedicated circuits, Incheon is planning a city race similar to those in Monaco or Las Vegas, with possible circuit locations being reviewed in Yeongjongdo and Songdo.

Last year's F1 Grand Prix held in Monaco. Photo by Yonhap News Agency

Previously, the F1 Grand Prix held in Yeongam County, South Jeolla Province from 2010 to 2013 received 30% national funding based on the "Formula One International Motor Racing Support Act," which was separately enacted in 2009. However, the Jeonnam F1 Grand Prix was discontinued after four years, failing to meet the originally planned seven-year run due to mounting operating deficits.

Meanwhile, there are divided opinions within the Incheon community regarding the bid to host the F1 Grand Prix.

Resident groups from areas such as Songdo, Cheongna, and Geomdan strongly support the bid, arguing that hosting the F1 Grand Prix-considered one of the world's top three sporting events alongside the Olympics and the World Cup-would enhance Incheon's and South Korea's international standing and have a positive economic impact.

On the other hand, 52 civic organizations, including the Incheon Peace and Welfare Solidarity, have formed the "Incheon Countermeasures Committee Against Hosting F1" to voice their opposition. The committee claims that infrastructure construction and hosting fees will cost hundreds of billions of won, significantly worsening Incheon's finances, and that a city race would cause severe traffic congestion as well as noise and dust pollution.

This content was produced with the assistance of AI translation services.