Incheon City, South Korea, begins preparations for business agreement to host F1 Grand Prix

On the 23rd, the city of Incheon, South Korea, announced that it had formed a dedicated bid team to host the Formula 1 Incheon Grand Prix and had begun discussions to conclude a business agreement.
Incheon City Government Vice Mayor Park Deok-soo and other city officials held a press conference at the City Hall on the same day to announce the signing of the F1 Korea Partnership, Teflon.
He discussed plans to conclude a business agreement with A Holdings Chairman Kang Nayeon to host the 2026 Incheon Formula 1 Grand Prix.
Prior to this, Incheon Mayor Yoo Jeong-bok attended the Japanese Suzuka Grand Prix on the 6th of this month.
He met with Formula One Group CEO Stefano Domenicali, who was also participating, and conveyed the letter of intent to hold the event in Incheon. Just 10 days later, on the 16th, F1 officials visited Incheon and held a press conference in downtown Incheon.
The city explained that the city is making rapid progress in attracting the event, including the selection of a circuit site. Incheon City is aiming to host the F1 Incheon Grand Prix in 2026, which will be a turning point for the city to leap into a global city.
Taking into consideration the urgency and expertise of the matter, the city has set up a dedicated promotion team. The city plans to closely examine the contract terms and various other aspects of the candidate venues and enter into a business agreement as soon as possible.
F1 is the abbreviation of the FIA Formula One World Championship. In the race, the governing body, the Fédération Internationale de l'Automobile (FIA),
Racing cars are made to comply with regulations on engines and tires. Racing cars are long, low bodies fitted with thick tires and are designed for speed.
Deputy Mayor Park Deok-soo said, "The most important thing is to move forward quickly in order to host the 2026 Games. We will swiftly carry out the review and procedures for concluding the business agreement. Incheon will also
"We will do our best to ensure that this global event that will promote Korea to the world is a success," said Kang Nayeon Chairman. "On the 16th of this month, F1 circuit design representatives visited Incheon.
"However, when the race was held in the city center, there was a great response," he said, adding, "I hope that a tournament with many fans from all over the world will be held in Incheon."