Jul.7 (GMM) Construction of Korea's formula one circuit is running late.

Based on a statement provided by race promoters KAVO on Tuesday, it was reported by multiple outlets that construction of the track in Joellanam-do province is "on schedule".

The reports follow rumours that F1 chief executive Bernie Ecclestone is lining up a potential replacement host for Korea, amid reports construction might have been delayed by the regional political situation.

The inaugural Korean grand prix is scheduled for October 24.

A KAVO official told AFP news agency that the track will be ready at the end of August at the latest.

"Our initial plan was to complete it in July but construction has been delayed," he said, without giving details.

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