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SBD Global/November 22, 2012/Finance
South Korean F1 Race Loses $36.4M In '12, Its Third Consecutive Loss Since '10
Published November 22, 2012
SLOW TICKET SALES: The SID reported the race in Yeongam suffers from slow ticket sales and "lack of interest" from South Koreans. In '10 the race "had a loss of about $67M, while the '11 edition led to an operating loss of about $56M" (SID, 11/21). South Jeolla province council member Seo Dong-wook said, "Just because the amount of loss was cut from 70B won to 40B won, I am not sure we can call this year's race a success. We will need to take some fundamental steps to change it" (YONHAP, 11/21).