After just one year, organizers of the Korean Grand Prix are slashing ticket prices by as much as 50 percent.

Despite widespread speculation as to the state of the track and its facilities, the inaugural race went ahead as planned last October with as many as 170,000 spectators pouring through the turnstiles over the course of the three days.

However, a many fans were turned away after a mix up which saw the South Jeolla region give away thousands of free tickets without the knowledge of the event's organizers, the Korea Auto Valley Operation (KAVO).

In the wake of the ticket debacle, not to mention the delay in the construction of the circuit - it was only officially approved by the FIA two weeks before the race - KAVO dismissed chief executive Chung Young-cho for lax management.

Speaking to the Yonhap news agency today, the head of the Korean Grand Prix organising committee Park Joon-young is adamant that the reduction in ticket prices and better marketing will result in a better turnout this year.

"This year, we will try to improve our ticket sales, advertising and other areas of our operations," he said. "I know that there were controversies about our construction and also ticket prices. We will try our best so that motor sports can develop into a key part of our leisure industry."

The average price of a ticket last year was £250 however, this has been reduced to £171 this year, while the cheapest ticket is reduced from £70 to £47.