Formula 1 racing team Renault staged a race in memory of the late chairman of Hanjin Shipping, Sooho Cho, who passed away last year at the age of 53.

An ardent supporter of F1 Championship races, Mr Cho's name was reflected on the surface of the Renault racing car as a tribute during the Malaysian Grand Prix held on April 8.

A company statement said the memorial race was held out of gratitude from the Renault F1 Team for Mr Cho and the Hanjin Group. The late chairman of Hanjin Shipping spared no effort for the F1 Championship races. Starting with his patronage through Korean Air in 1997, Mr Cho continued to support F1 with the "Hanjin", the brand of Hanjin Shipping, which presently is the only Korea-based sponsor company of Formula One.

Under Mr Cho's patronage, the Renault F1 Team had demonstrated its great success by gaining the World Championship title four times, as well as, winning the Grand Prix 18 times. The late chairman had himself visited and personally encouraged the team players at many of the races.

"The memorial race of the F1 Renault Team served as a chance for viewers to remember fondly a prominent figure in global shipping and his lifelong achievements," the statement said.