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The South Korean city of Incheon has submitted a letter of intent to Formula 1 about hosting a new race on a street circuit – possibly as early as 2026.
The mayor of Incheon, Yoo Jeong-bok, met F1 chief executive Stefano Domenicali at the Japanese Grand Prix in Suzuka over the weekend to deliver the letter.
The Incheon district, close to the Korean capital of Seoul, is keen to host a street race with a 2027 or 2026 start date.
The race is set to be known as the F1 Incheon Grand Prix, as opposed to the Korean Grand Prix which took place from 2010-2013 at a ready-made circuit in Yeongam.
Jeong-bok said: “Incheon is the best place to host F1, as it has a transportation network such as Incheon Airport and Incheon Port and many luxury accommodations.
“We will begin full-scale discussions to host F1 Incheon.”
The Korean Grand Prix was a mainstay on the F1 calendar for four years, with Sebastian Vettel winning three editions, before the event became unprofitable and the organisers no longer wished to host the race.
F1 chief executive Stefano Domenicali received a letter of intent from the mayor of Incheon (Getty Images)
Madrid has already been confirmed as a new race in 2026, on the streets of the Spanish capital, with the future of the Spanish Grand Prix in Barcelona consequently up in the air.
No new races are expected in the 2025 calendar, with the schedule already jam-packed this year with a record-breaking 24 races being held over 40 weeks.
The next race of the 2024 season takes place in China, with F1 returning to the Shanghai International Circuit for the first time in five years after Covid-based cancellations.
F1 has been approached for comment.
