Team Korea enters 34th America's Cup

4th challenger pays entry fee

In a major development for the 34th America's Cup, the America's Cup Event Authority has confirmed that Team Korea has paid its entry fee for next year's Louis Vuitton Cup challenger selection series. This is highly significant for the event as it brings the number of challengers up to four meaning, that the Louis Vuitton Cup can now at least have a semi-final series.

The deadline for entry into the Louis Vuitton Cup together with a mandatory payment of US$ 200,000 had been 1 June 2012, but this was extended until 1 August. 

"I'm very happy to see Team Korea take this next step," said Iain Murray, the Regatta Director for the 34th America's Cup. "The challenges faced by any America's Cup team are immense; it's just a massive project, so to see the Korean team tick another box and move to the next stage is very encouraging."

This marks the first time a team from Korea has challenged for the America's Cup.

For Korea's White Tiger Challenge, headed by CEO and Team Principal Kim Dong-Young, the race will now be on to finalise the design and start the build of its AC72 catamaran, the former task being headed by New Zealand's Brett Bakewell-White.

Team Korea has already proven itself a solid competitor in the America's Cup World Series and heads to the final event of the 2011-12 season in Newport this month in fifth place. The team is led by 49er multiple World Champion Nathan Outteridge, who made his debut in the AC45 class this past April in Naples, and includes Britain's Matt Cornwell, Mark Bulkeley and Finn sailor Giles Scott in its sailing team along with Australian Troy Tindill.