From GMM
Singapore telecommunications company SingTel has renewed its naming sponsorship for another two years while South Korean companies are waiting before entering F1.
Bernie Ecclestone confirms SingTel staying with Singapore grand prix
The local media broadcaster MediaCorp now reports that SingTel has extended its sponsorship of the city-state's night grand prix yet again. The company initially inked a one-year deal in 2008, and then extended the contract for 2009 and 2010.
The news follows rumours during Singapore's third F1 event in September that SingTel was considering ending its association with the Singapore grand prix.
"Quite the contrary. We agreed terms with SingTel for the renewal of their contract for a further two years," said F1 chief executive Bernie Ecclestone.
He did not, however, deny speculation that other companies had expressed interest in replacing SingTel.
"We have companies worldwide that wish to have association in formula one and I always prefer to have local sponsors for the title sponsorship," said Bernie Ecclestone.
Korean companies are reportedly holding off before deciding whether to follow the east Asian country into formula one
The brand new Yeongam circuit hosted its inaugural grand prix last weekend, but the only Korean brand involved as a sponsor was LG.
A range of companies told Korea's JoongAng daily that they are waiting to gauge the impact of the first F1 race.
And South Korean mobile operator SKT, and the other major telcom KT, "largely expressed disinterest" in F1, the newspaper revealed. "We have obviously decided not to sponsor the F1 races this year, but the situation might be different next year. It's impossible to say at this point," a spokesperson for KT said.
An SKT spokesperson added: "We had not heard of any plans regarding sponsorship (of F1) inside the company."
And Diageo Korea, the Korean arm of McLaren's whisky sponsor Johnnie Walker, said via a spokesperson: "We might consider sponsoring next year, depending on the success of this year's Korean grand prix."
Singapore telecommunications company SingTel has renewed its naming sponsorship for another two years while South Korean companies are waiting before entering F1.
Bernie Ecclestone confirms SingTel staying with Singapore grand prix
The local media broadcaster MediaCorp now reports that SingTel has extended its sponsorship of the city-state's night grand prix yet again. The company initially inked a one-year deal in 2008, and then extended the contract for 2009 and 2010.
The news follows rumours during Singapore's third F1 event in September that SingTel was considering ending its association with the Singapore grand prix.
"Quite the contrary. We agreed terms with SingTel for the renewal of their contract for a further two years," said F1 chief executive Bernie Ecclestone.
He did not, however, deny speculation that other companies had expressed interest in replacing SingTel.
"We have companies worldwide that wish to have association in formula one and I always prefer to have local sponsors for the title sponsorship," said Bernie Ecclestone.
Korean companies are reportedly holding off before deciding whether to follow the east Asian country into formula one
The brand new Yeongam circuit hosted its inaugural grand prix last weekend, but the only Korean brand involved as a sponsor was LG.
A range of companies told Korea's JoongAng daily that they are waiting to gauge the impact of the first F1 race.
And South Korean mobile operator SKT, and the other major telcom KT, "largely expressed disinterest" in F1, the newspaper revealed. "We have obviously decided not to sponsor the F1 races this year, but the situation might be different next year. It's impossible to say at this point," a spokesperson for KT said.
An SKT spokesperson added: "We had not heard of any plans regarding sponsorship (of F1) inside the company."
And Diageo Korea, the Korean arm of McLaren's whisky sponsor Johnnie Walker, said via a spokesperson: "We might consider sponsoring next year, depending on the success of this year's Korean grand prix."