BUSINESS BRIEFS

Hyundai Mobis to invest €130 million

South Korea's largest auto parts producer, Hyundai Mobis, plans to invest some €130 million into the construction of a new production plant in Slovakia, on-line daily Korea Herald reports.

According to the paper, Slovakia agreed to provide Hyundai with the same package of investment incentives that it offered to the car manufacturer Kia Motors, the news wire TASR wrote.

Kia Motors, which was acquired by Hyundai in 1998, will build a €700 million production plant near the northern Slovak city of Žilina that should employ some 2,400 people and turn out around 200,000 cars a year from the end of 2006.

"In the beginning, the Slovak government planned to provide the incentive package only to the Kia car manufacturer, but we have achieved the same benefits following an agreement with the government," the online Korean daily was told by a Hyundai Mobis official. As in the case of Kia Motors, the package offered to Hyundai includes free provision of lands and tax benefits up to 15 percent of the total investment. The new Hyundai Mobis plant will be located next to the Kia plant, and their construction carried out simultaneously.

Top stories

News digest: Slovakia gets a silver medal and a new UNESCO site

NCZI will check for vaccination among attendees of Pope-related events. Pro-vaccination gathering planned in Bratislava on Friday evening. Storm warnings this weekend.


14 h
Wrapped up in a rainbow flag, Slovak singer Karin Ann performs "babyboy" on a national TV broadcaster in Poland.

Slovak Billie Eilish supports LGBTI people on live Polish TV

Sports, travel and culture stories about Slovakia in one place.


19 h
The Nord Stream 2 pipeline is installed in Swedish waters.

US and Germany made a declaration on Nord Stream 2. Where does it leave Slovakia?

Slovakia’s official position to Nord Stream 2 has gone from slightly critical to silent, analyst says.


29. júl