Barry Bland, director of British race management and insurance firm Motor Race Consultants, said his reputation was 'ruined' by the cancellation of the F3 GP in November.

Korea Auto Valley Operation (KAVO), a joint venture between a private company and South Jeolla province, held the country's first F1 Grand Prix at its brand-new track in Yeongam county last October.

KAVO also signed an agreement with Bland to host the F3 race for seven years at the same circuit.

It was due to host the F3 event in November, also South Korea's first, but KAVO cancelled it after inspectors questioned the safety of some facilities including mobile stands.

The Korea Automobile Association (KARA), which monitors and organizes international auto races in the country, said it has received a letter from Bland.