the 2012 Australian Grand Prix, organisers of the race in Korea announced that they had reached a new deal with Formula One Management that would save $20.5 million (₩23 billion) in costs. Kang Hyo-seok, director of race organisation for the Korean Grand Prix, admitted that the race was still 'too expensive' for Korea, anticipating an estimated loss of $26 million (₩29 billion) in 2012. The race went ahead in 2013. Cancellation A preliminary calendar for the 2014 season listed a provisional date for the Korean Grand Prix, but the race was omitted from the final calendar for 2014. Initially, the race was not included in the provisional 2015 calendar, a later calendar released in December 2014, gave the Korean Grand Prix a slot on 3 May 2015, having been moved from towards the end of the calendar in previous years, towards the start of the calendar. On 12 December 2014 Bernie Ecclestone said that Korean Grand Prix had to be added to 2015 calendar for legal reasons, citing contract obligations, but that organizers were not keen on having the race. Later it was announced that it had been removed from the calendar by the FIA because the organisers did not wish to host it. They had plans to revive the Korean Grand Prix in 2016, but these also failed to materialise. Winners All Korean Grands Prix were held at Yeongam. See also Korea Super Prix, Formula Three race held annually in Korea between 1999 and 2003 References Formula One Grands Prix National Grands Prix Sport in South Jeolla Province 2010 establishments in South Korea Recurring sporting events established in 2010 Recurring sporting events disestablished in 2013 2013 disestablishments in South Korea