The purpose of this study is to identify and examine the host residents' perceptions towards a mega event, the 2011 F1 Korea Granprix. An impact scale comprising 31 impact items with five factors - positive economic impacts, positive social-cultural impacts, negative environmental impacts, negative social-cultural impacts and negative economic impacts - was developed. It was found that the majority of respondents very positively perceived the impacts of the 2011 F1 Korea Granprix. Particularly the result of regression analysis indicated that positive social-cultural impact and negative environmental impact had an effect on the residents' benefits and that positive and negative social-cultural impacts on the residents' attachment. And the resident' benefit and attachment had an effect on the development support.