27 Nov 2008

Korean company signs F1 deal

7:32 am on 27 November 2008

The giant South Korean-based global electronics company LG has bucked the credit crunch by announcing a five-year deal with Formula One.

The value of the sponsorship hasn't been made public, though the company's chief marketing officer said it would amount to tens of millions of dollars.

The company also sponsors the English premier league football club Fulham.