The South Korean city of Incheon has penned a letter of intent about hosting a street-based Grand Prix, that has subsequently been submitted to Formula 1.
The proposed bid would be an all-new F1 venue after South Korea held Grands Prix at the purpose-built Yeongam circuit from 2010 to 2013.
According to reports, Incheon’s Mayor Yoo Jeong-bok was present at the Japanese Grand Prix at Suzuka last weekend and met with F1 CEO Stefano Domenicali to deliver the letter of intent to bring the series to the city.
Slated to be dubbed the F1 Incheon Grand Prix, the bid hopes to get the race off of the ground either in 2026 or 2027.
“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,” said Jeong-bok.
“We will begin full-scale discussions to host F1 Incheon.”
The city-based F1 model has become an increasingly attractive proposition to series in recent times, typified by the move to take the Spanish GP to Madrid in 2026 on a 10-year deal.
That move was sparked by IFEMA Exhibition Centre-based circuit’s close proximity to the Madrid International Airport and metro transport links, making it a sustainable venue that is easy for fans to get in and out of – the same can’t be said for Barcelona’s Grand Prix venue.
Similar bids to Incheon’s have also been launched, with Osaka quietly making claims in January that it wishes to compete for the Japanese Grand Prix with Suzuka although contract extension through to 2029 has helped solidify the latter’s presence in F1.
If South Korea finds its way onto either the 2026 or ’27 calendar F1 could see the series hit the current limit for Grands Prix set in the current concorde agreement.
That agreement limits the number of rounds per year at 25 through to the 2030 season and although a new agreement is set to be struck by the end of this year, it is unlikely that this limit will change.
As it stands, the calendar is at a record 24 rounds long, but there are several venues with expiring contracts across the next few seasons.
Spa, Monaco, Mexico City, Zandvoort, Monza, Imola, Las Vegas and Shanghai are all on deals through to the end of 2025 with Baku, Circuit of the Americas and Barcelona contracted through to 2026.
With the future of Barcelona up in the air, the path has potentially been laid for South Korea to swoop in and replace it.
