S.Korea's F1 on track for late August

Motor racing's world governing body gave the go-ahead Tuesday for South Korea's first Formula One Grand Prix this month, organisers said.The track at Yeongam, 320 kilometres (200 miles) south of Seoul, passed a final inspection from the Federation Internationale de l'Automobile (FIA), the Korea Auto Valley Operation said in a statement.

A legal dispute has erupted after the scrapping of an F3 race at the Yeongam circuit which staged South Korea's first Formula One grand prix won by Fernando Alonso last season.Barry Bland, director of British race management and insurance firm Motor Race Consultants, said his reputation was "ruined" by the cancellation of the F3 GP in November.Korea Auto Valley Operation (KAVO), a joint venture between a private company and South Jeolla province, held the country's first F1 Grand Prix at its brand-new track in Yeongam county last October.

Motor racing's governing body has given the green light for South Korea's first Formula One Grand Prix, organisers said Tuesday after a frantic rush to complete the circuit before this month's event.The track passed a final inspection by the Federation Internationale de l'Automobile (FIA), Korea Auto Valley Operation (KAVO) said."We are delighted that all work is now finished to the complete satisfaction of the FIA," KAVO chief Chung Yung-Cho said in a statement.

Motor racing's world governing body gave the go-ahead Tuesday for South Korea's first Formula One Grand Prix, organisers said, after doubts over the readiness of the circuit.The track passed a final inspection by the Federation Internationale de l'Automobile (FIA), the Korea Auto Valley Operation (KAVO) said in a statement.It earned a top grade at the inspection led by FIA technical director Charlie Whiting on Monday, KAVO said.

Motor racing's world governing body gave the go-ahead Tuesday for South Korea's first Formula One Grand Prix later this month, organisers said, after doubts over the readiness of the circuit.The track passed a final inspection from the Federation Internationale de l'Automobile (FIA), the Korea Auto Valley Operation (KAVO) said in a statement.It earned a top grade at the inspection led by FIA technical director Charlie Whiting on Monday, KAVO said.

North Korea on Saturday launched three short-range missiles into the Sea of Japan, apparently as part of a military drill, South Korea's defence ministry said. US and South Korean forces had been on heightened alert for a medium-range ballistic missile test in recent weeks amid tensions triggered by North Korea's nuclear test in February.

The chief organiser of South Korea's first Formula One Grand Prix race last year was dismissed at a Friday board meeting on the grounds of lax management, a report said.In an emergency meeting, shareholders of Korea Auto Valley Operation (KAVO) voted to fire chief executive Chung Young-Cho and two other senior executives, the Yonhap news agency said.Park Won-Hwa, former South Korean ambassador to Switzerland, has been named Chung's replacement, it said.KAVO officials were not available for comment.

After three years of work, a 275 million dollar investment and frantic last-minute building work, Formula One comes to South Korea this weekend on what is touted as Asia's best circuit.F1 supremo Bernie Ecclestone has predicted the world will watch a "great race", on a 5.6-kilometre (3.5-mile) track featuring a mix of corners, long straights and good overtaking opportunities.But ticket sales have been slow and big business groups have shunned the opportunity to sponsor the event, even though South Korea is the world's fifth largest automaker.