Korean Grand Prix officials are keen for the return of their race in 2016, but they must first settle a contract dispute with Bernie Ecclestone’s Formula One Management.

The race was a surprise addition to the 2015 calendar, but it was quickly dropped and Ecclestone’s management group is believed to be suing them over a breach of contract.

AUTOSPORT believes that the issue relates to an unpaid figure of £27m, which is a sanctioning fee that was written into the contract.

Korea hopes to negotiate a new financial package which will allow them to return in 2016, and race officials told AUTOSPORT that they hope a new deal can be agreed.

However, they warned that the deal has to be right for them financially.

The race was last staged in 2013, but it was clearly unpopular with fans, drivers and local people, as attendances were generally low.

This may be because the Yeongam track is situated in the remote south-west of the country.

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