Doubts have been raised about the long term future of the Korean Grand Prix following reports in Italian motor racing publication Autosprint that the event will be replaced by the Argentine Grand Prix from 2013.
Organizers of the troubled Korean event have publicly raised the issue of not being able to meet the demands placed by Formula One Management with regards to the event's race hosting fees.
The circuit in Yeongam, South Korea has also not proved to be a particularly popular venue with fans and the media. In addition, the facility was reportedly not used at all between the end of the inaugural event in 2010 and the start of last year's race.
Argentine President Christina de Kirchner stated last month that the country's first race since the 1998 Argentine GP will be held on the streets of the coastal city of Mar del Plata.
Austria's Hermann Tilke, F1's circuit designer of choice, will be reportedly responsible for the design of the street circuit's layout.