Spectator on facebook

Spectator on facebook

Hankook will reopen negotiations with other countries

KOREAN tyre maker Hankook Tire notified the Economy Ministry that it will renew negotiations with other countries on placing its new Central European plant, a source close to the Economy Ministry told the SITA news wire.

Slovakia lost its exclusivity on negotiations a week after a July 6 cabinet meeting in which the cabinet refused to approve the incentives the tyre maker had asked for.

However, Hankook is still willing to invest in Slovakia, but only under the conditions Hankook vice-president Young Soo Woo set out to Slovak Prime Minister Mikuláš Dzurinda on July 8, SITA reported.

"The South Korean company said that it is willing to go down from the originally proposed 21 percent state assistance to 19 percent of the total investment, while direct financial assistance should amount to 13 percent. Hankook will make no further concessions," added the source, who is close to the investment project.

Economy Ministry spokesman Maroš Havran confirmed that the ministry received a letter from Hankook. However, he said that the Korean company wished to keep the content of the letter confidential.

Prime Minister Mikuláš Dzurinda said that 6 percent of the total investment and Sk1 million (€25,700) per created job is the maximum the country would pay.

Economy Minister Pavol Rusko proposed state assistance of 10 percent and a subsidy for the creation of one job at about Sk2 million (€51,400).

Hankook Tire was planning to invest €500 million in the southern Slovak town of Levice, in a plant with the capacity to produce 5 million tyres annually.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Quidditch becomes reality in Slovakia as first teams emerge Video

The wizard sport, fighting for its status in the real sports world, has won the hearts of some Slovaks.

Top stories from Last Week in Slovakia Video

Voters’ indifference affects regional votes - Can Slovaks be lured back from Britain? - Petit Press majority owner dies

Foreigners: Top 10 events in Bratislava Video

Tips for the top 10 events in the capital between October 20 and October 29, plus regular services in different languages, training, temporary exhibitions and highlights of the year.

International Halloween Party

Babiš did not re-write the past

Constitutional Court decided in favour of National Memory Institute which included Andrej Babiš in its list of communist secret service confindants.

Slovak-born Czech Finance Minister Andrej Babiš