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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Builders race to finish first S.Korea F1 track AFP - Sunday, September 5 Send IM Story Print Builders race to finish first S.Korea F1 track YEONGAM, South Korea (AFP) - – Organisers of South Korea's first Formula One event say they are confident they can complete the brand-new circuit before a final inspection from the sport's world governing body. India's Karun Chandhok on Saturday became the first F1 driver to test out the 5.6-kilometre (3.5-mile) track, which boasts Asia's longest straight stretch, and declared it basically in good shape. "We have done more than 90 percent of work on the track," said Chung Yung-Cho, chief of the Korea Auto Valley Operation (KAVO), at a lavish weekend event to mark the 50-day countdown to the race on October 24. "The F1 championship here will be successful. You will see a historic moment 50 days from now." About 1,500 fans and guests watched a motorcycle stunt, a parade of 100 sports cars and Chandhok's demonstration run in a Red Bull F1 machine. With work behind schedule, organisers said the weekend event was staged to dispel worries that the track at Yeongam, 320 kilometres (200 miles) south of Seoul, may not be ready in time. The circuit has been constructed on reclaimed land alongside an artificial lake by KAVO, a joint venture between a private firm and the provincial government. Many seats in the main stand are yet to be installed, while parking lots, roads and some facilities such as mobile stands are still in the final phase of construction. "We are under enormous pressure and are trying really hard to complete work, but time is running short," a construction company chief told AFP on condition of anonymity. But organisers insisted the circuit would be ready in three weeks when the Federation Internationale de l'Automobile (FIA) conducts its final inspection. "This track satisfies strict safety standards required by the FIA," Chung said. His confidence in the event got a boost after signing an agreement Saturday with Barry Bland, director of British race management and insurance firm Motor Race Consultants, to host an international F3 race in November. KAVO officials described the F3 agreement as the first positive sign that their circuit would be competitive. Bland said the track was generally in good shape, although "a lot of work" still had to be done. "The top layer of surface still has to be done and sides of the track have to be finished... I think that if there is enough manpower, it could be finished in time," he told AFP. Bland said the circuit was "very different" from others with its unusually fast corners and a very long stretch. "I think drivers will really like it." Chandhok, who completed 15 laps in his F1 car, said the track -- with a combination of fast and slow corners as well as places to overtake -- was "very interesting". "High-speed corners will be a real challenge for drivers. I think this is a little bit like Malaysia, which has a combination of many different corners," he said. "It's not completely finished... but generally it's pretty good." Chung said Yeongam would be the country's biggest sports facility capable of accommodating more than 120,000 spectators at a time, including 16,000 in the main stand. The Korean Grand Prix will be the 17th event of this year's 19-race season. KAVO will host the race once a year for seven years with an option to extend for five years if arrangements with the FIA are satisfactory. It has designated some 5,000 hotel rooms near the circuit with 600 shuttle buses delegated to transport visitors. Organisers say the race at Yeongam could be decisive in this year's world championship. Britain's Lewis Hamilton of McLaren is currently leading after winning the Belgian Grand Prix a week ago. 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