The FIA have announced that the all-electric Formula E series will hold its first race in Seoul, Korea Republic on 3 May 2020.
The ‘Seoul E-Prix 2020’ will be held in the middle of FE’s sixth season, which will visit 13 locations across five continents.
The Seoul event is likely to produce an economic effect of 400 billion won ($342 million) and create 2,800 new jobs, according to the organises.
"Seoul is one of the liveliest cities in the world and has vast experiences of hosting international sport events," said Alejandro Agag, founder and CEO of Formula E.
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"As Asia holds a dominant position in electric vehicle sales and related technologies, hosting the event in Seoul can show Korea's commitment to green mobility."
Formula E explained that it decided to bring the event to Seoul to go in line with Korea's efforts to foster the electric vehicle (EV) battery sector as the nation's new growth engine.
The event organising committee chairman Lee Hee-beom explained the reasons for holding the racing event in Seoul, citing that its main purpose is to tap into the future market.
"All-electric cars supplied with Korea's leading battery technology will become the nation's new growth engine in the near future. Electric cars can also tackle environmental issues like air pollution and fine dust," Lee said.