The race begins on October 6, 2013, at the Korean Grand Prix in Yeongam, South Korea. The city of Incheon in South Korea has expressed its interest in hosting a street-based Grand Prix and has submitted a letter of intent to Formula 1. This proposed bid aims to establish a new F1 venue, following South Korea’s previous Grands Prix at the Yeongam circuit from 2010 to 2013. Mayor Yoo Jeong-bok of Incheon personally delivered the letter of intent to F1 CEO Stefano Domenicali during the Japanese Grand Prix at Suzuka. The proposed event, called the F1 Incheon Grand Prix, is expected to take place in either 2026 or 2027.
Mayor Jeong-bok believes that Incheon is the ideal location for hosting F1 due to its excellent transportation network, including Incheon Airport and Incheon Port, as well as its abundance of luxury accommodations. Full-scale discussions will now commence to explore the possibility of hosting the F1 Incheon Grand Prix. The concept of city-based F1 races has gained popularity in recent years, as demonstrated by the decision to move the Spanish Grand Prix to Madrid in 2026 under a 10-year agreement. This move was prompted by the proximity of the IFEMA Exhibition Centre-based circuit to the Madrid International Airport and metro transport links, making it a convenient and sustainable venue for fans. Incheon’s bid is similar in nature to these city-based models.
Other cities, such as Osaka, have also expressed their interest in hosting F1 races. Osaka quietly announced in January its desire to compete for the Japanese Grand Prix alongside Suzuka. However, Suzuka’s contract extension until 2029 has solidified its position in F1. If South Korea’s bid is successful and the F1 Incheon Grand Prix is included in either the 2026 or 2027 calendar, it could potentially reach the maximum limit of 25 Grands Prix set by the current concorde agreement, which will remain in effect until the 2030 season. Although a new agreement is expected to be reached by the end of this year, it is unlikely that the limit will change.
Currently, the F1 calendar consists of a record-breaking 24 rounds, but there are several venues with contracts expiring in the coming seasons. Spa, Monaco, Mexico City, Zandvoort, Monza, Imola, Las Vegas, and Shanghai are all contracted until the end of 2025, while Baku, Circuit of the Americas, and Barcelona have contracts until 2026. With the uncertain future of Barcelona, South Korea may have the opportunity to replace it as a host city for an F1 race.