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Formula 1 supremo Bernie Ecclestone has cast doubt on the future of the Korean Grand Prix, after ruling out talks to renegotiate its contract.

The promoter of the Yeongam event, Won-Hwa Park, told AUTOSPORT earlier this month that he wanted to seek a cut in the race hosting fee because of the huge losses the event is facing.

Ecclestone has said that such an outcome is unlikely, however, after conceding that he has 'no idea' if the event would remain a part of the calendar.

"There are lots of things in life you can't afford, and you don't have to have them," he told reporters at Buddh, ahead of the Indian Grand Prix. International Circuit. "And it took us long enough to negotiate with them in the first place."

He added: "It was strange. They didn't really get behind it. That was a disappointment because it was a big enough effort to get it on in the first place."

When asked if the matter would be finished if the Koreans were unable to afford the race, Ecclestone said: "Yeah".