Korea will join the ranks of the A1GP series next season after signing an agreement at Sunday's event in Shanghai.
Korea will contest the series from the start of the 2008/09 campaign - the fourth season of A1GP and the first that will see competitors running with Ferrari-designed engines and chassis.
Sunday's deal marks Korea's first foray into international motor racing.
Seat holder Joshua Kim said: ‘Korea has the fifth biggest automobile industry in the world but, as a nation, we are not familiar with motorsport, so this is my main reason for joining A1GP.
‘Korean people love sport but they do not know about motorsport. Through A1GP, motorsport will become more popular and people will know about the sport.’
A total of 22 nations are contesting the third season of A1GP. Series leaders Switzerland need just four points to wrap up the title at the final races at Brands Hatch on 4 May.
