Following reports that construction of the track which will host the inaugural Korean Grand Prix is behind schedule, raising fears that the event will need to be postponed until 2011, officials claim that work in on target.

Previously, the German magazine Focus reported that due to unspecified problems, the track might not be finished in time to host this year's inaugural event, scheduled for 24 October. Indeed, designer, Herman Tilke told the publication: "For the first time I believe that a (Tilke) circuit is not going to be ready in time."

However, Chung Yung Cho, CEO of the event's promoter, the Korea Auto Valley Operation, dismisses the report and insists that work in on schedule.

"The construction progress is well ahead of its schedule and we have absolutely no issues with completion," he said, according to the BBC.

""I understand that Mr Ecclestone is quite happy with not only the progress of the track but the direction the Korean F1 race is headed and he has raised no questions and concerns," he added.

Indeed, Chung Yung Cho and Ecclestone were both present at last week's Malaysian Grand Prix, and it is thought that if there were a problem with regards construction of the Korean track a statement would have been issued at that time.