Mercedes team boss Toto Wolff has expressed support for a possible return of the South Korean Grand Prix to the Formula 1 calendar. According to the Austrian, the country is an ‘untapped market’ with significant growth potential, especially considering the changing demographics of F1 fans worldwide.
The South Korean Grand Prix was on the calendar four times between 2010 and 2013, held at the Korean International Circuit. However, the race disappeared from the scene in 2014, partly due to financial setbacks and an expiring contract with FOM. Reportedly, a loss of about 26 million dollars was suffered in 2012.
Yet, as of 2025, Wolff sees new opportunities in South Korea. “It has been an untapped market for a while,” he told Reuters. “While Formula 1 has grown enormously in recent years, especially among younger audiences.” Currently, Formula 1 organizes races in China, Japan, and Singapore within the Asian market.
Growth Among Young People
According to Wolff, the strong growth among young female fans between the ages of 15 and 24 is a reason to reconsider South Korea. “That is currently our fastest-growing audience, and they are particularly active on social media. South Korea is an extremely connected country in terms of social media, so it would be great if we could show there how different Formula 1 is today.” Wolff acknowledges that commercial factors play a role, but also sees a broader strategic value. “Of course, money plays a role, but it’s also about long-term planning. I think we still have a bit of a blind spot in East Asia.”
