German designer Hermann Tilke was given the responsibility of the design of the track. It is part permanent, part temporary. The temporary part is along the harbour side of the province where spectators from the promenade, hotels and yachts can view the race. Part of the city with possible exhibition facilities, shops, restaurants and cafes are utilized as the pit lane during the F1 Grand Prix weekend.
The initial contract has a duration of seven years, with a five-year option that could take the race until 2021. The circuit planned to revive the Korea Super Prix in 2011. The Formula Three event, previous held at the Changwon City Raceway, last raced in 2003.
In the midst of speculation that the race would be aborted because the circuit would not be completed in time, organisers for the race announced the circuit's opening date to be 5 September 2010. On 4 September 2010, in an event called ?Circuit Run 2010?, a Red Bull Racing Formula 1 show car using a V10 version of the current Renault engine, with Karun Chandhok at the wheel, completed 14 laps of the all new Korean Formula One Grand Prix circuit. Four thousand spectators travelled to the new track for the event.
Source: Wikipedia