South Korea has been bumped from next year’s Formula One (F1) provisional calendar.
 
The South Jeolla Province government says the FIA’s World Motorsport Council finalized its 2014 schedule in Paris on Wednesday, local time, without the F1 Korean Grand Prix.
 
Three of the 22 races announced in the initial draft of the schedule were removed, including the Korean Grand Prix, the Grand Prix of America and a race in Mexico.
 
South Korea apparently lost its spot after Formula One Management rejected a request by the F1 organizing committee in South Jeolla Province to further lower sanction fees.
 
The F1 organizing committee asked the Formula One Management to cut the fees by 40 percent to 27 million dollars this year from last year’s 43-point-seven million dollars. The committee asked for the fees to be lowered further to 20 million dollars next year, citing a chronic deficit.
 
South Jeolla Province hopes to secure the race in 2015 but it is not expected to be an easy task. The apparent notion in the international community is that an event in South Korea will not help Formula One’s success.