The track in Yeongam county, 320 km southwest of Seoul, will have a 5,615 metre-long circuit including a 1,200-metre straight stretch, the Korea Auto Valley Operation (KAVO) said.
The country's first international auto racetrack will also be able to accommodate 135,000 spectators.
KAVO is a joint venture between M-Bridge Holdings, a private company, and the provincial government of South Jeolla, where Yeongam is located.
Its first Formula One race is to be hosted in October next year.
AFP