Organisers of the Korean Grand Prix insist that they are not giving up on the possibility of Formula 1 returning to the country in the future.
The race, held at the Yeongam circuit near Mokpo, has been dropped after four years on the calendar.
The event has struggled financially since its inaugural race in 2010 but Park Joon-Yung, Governor of The Southern Province of South Jeolla, is adamant that the sport is crucial to the area.
'Formula 1 is the future of our province,' he said. 'We will make steady efforts to achieve our goal, even though the race will not be held there next year.'
A proposed race at Port Imperial in New Jersey was initially set to take place in 2013 but was postponed...
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