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Team Korea pays entry fee

Updated: June 19, 2012, 12:09 AM ET
Associated Press

SAN FRANCISCO -- Team Korea has paid its entry fee for the 2013 Louis Vuitton Cup, the elimination series for America's Cup challengers.

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

The team will have to finalize its design and begin building its own AC72 catamaran. Major components of the 72-foot boat must be constructed in Korea.

Team Korea, skippered by Australia's Nathan Outteridge, has proven itself a solid competitor in the AC World Series ...

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