Korea axed from 2015 F1 calendar

The 2015 Formula One series will be without the South Korean Grand Prix, organizers confirmed on Wednesday.

The sports governing body FIA removed the South Korean race from the final version of this year's schedule published on its website late on Tuesday, reducing the season to 20 races.

The race in the southern county of Yeongam made its debut in 2010 under a deal intended to last until 2016 with a five-year renewal option.

But it has been losing money since the beginning and accumulated a loss of 170 million U.S. dollars over four years. It was dropped from the 2014 schedule.

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