LG agree multi-year deal with Red Bull F1 team

South Korean-based LG Electronics announced a multi-year deal with Formula One title contenders Red Bull on Friday in addition to their existing sponsorship of the sport. 

No financial details were given at the German Grand Prix. LG's logo will appear on the Red Bull cars and driver overalls and helmet visors. 

Red Bull have won five of the season's 10 races with Australian Mark Webber and Germany''s Sebastian Vettel, as well as taking nine out of 10 pole positions.

LG announced a five-year partnership with Formula One in 2008, with the company's branding visible on the broadcast feed, timekeeping systems and graphics. 

South Korea is due to host its first grand prix in October and Dermot Boden, Seoul-based chief marketing officer for LG, was confident it would be a success despite some paddock sceptics questioning whether the circuit would be ready.

"We will have a race in Korea, I strongly believe it. I don''t think there is any reason to doubt it at all," he said. "The Korean approach to this will be to deliver not just a race but an outstanding race."  

International Automobile Federation race director and safety delegate Charlie Whiting made his first inspection of the track in South Jeolla province this month and is due to visit again at the end of next month. 

"Whiting made a detailed inspection of the facility and was briefed on the construction schedule, after which he expressed his satisfaction with the progress," the local organisers said in a statement.