The renowned Formula One Grand Prix motorcar race will begin using a special tourist and leisure zone in South Jeolla Province as one of its venues from 2010.

Governor Park Jun-young and Formula One Management Chairman Bernie Ecleston signed an agreement in Seoul Monday to build a motordrome in the tourist district on the nation's southwestern coast.

Eleven teams participate in the Formula One championship touring around 17 to 18 countries every year.

Launched in 1950, FI is regarded one of the three major world sports events along with the World Cup and the Olympics in terms of TV ratings and audience draw.

Construction of the motorcar- and motorcycle-only race track will begin next year for completion by end-2009.