Samsung debating new investment in Galanta

THE KOREAN electronics manufacturer Samsung is in talks with Slovak officials on a further Sk15.2 billion (400 million euro) investment in Galanta, where it already has a factory and a logistics centre for Central and Eastern Europe.

The money would be spent on a new factory for assembling LCD modules to be supplied to Samsung’s existing Galanta plant, which now produces LCD television sets and CD players.

The new factory would employ 1,500 people. Samsung is asking the government for investment stimuli of Sk3.2 billion, or 21.5 percent of the value of the investment.

The president of Samsung’s Digital Media Business firm, Gee Sung Choi, told Economy Minister Ľubomír Jahnátek on Monday to “be careful”, as other countries in the region were interested in securing the investment. Slovakia, however, has an advantage in that the proximity of Samsung’s existing Galanta plant is a major consideration in where to locate the new factory.

Talks between Samsung and the Slovak government are to continue.

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