P1racenews AI automatic summary:
F1 return given green light for 2028 after 13-year absence
The green light has been given internally for Incheon, South Korea, to host an F1 grand prix after a 13-year absence from the calendar. Following a feasibility study, Incheon determined it is financially viable to host the race. The proposed street circuit, near Songdo International City, will be 4,960 meters long and meet modern F1 standards.
Renowned designer Hermann Tilke is leading the layout design for the potential new race track. The project has a benefits-to-cost ratio of 1.45, with expected benefits of over 1.16 trillion won. The operation will be managed primarily by the private sector to ease the burden on public funds.
To build momentum around Korea’s F1 return bid, Incheon expects around 120,000 spectators per day during a three-day race weekend, potentially attracting 300,000 to 400,000 visitors. The event is projected to create 4,800 jobs and generate tourism revenues of around 580 billion won. Mayor Yoo aims for Incheon to become a top ten global city with the hosting of an F1 race.
