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Slovakia out of the running for Hankook investment

KOREAN firm Hankook Tire is reportedly considering the Czech Republic, Hungary and Poland as sites for a $600 million (€496 million) factory, after dropping Slovakia from consideration, according to the SITA news wire.

The Hungarian daily Világgazdaság said Hungary was among the favourites and that its chances have been increasing.

The Slovak Finance Ministry was not able to confirm or deny the Hankook reports.

Earlier this year, Hankook chose the Slovak city of Levice as its new site after former Economy Minister Pavol Rusko promised the tyre maker state incentives that the cabinet refused to approve.

Hankook asked for state support worth 21.3 percent of its investment. After the cabinet refused to meet the tyre maker's demands, Hankook re-opened negotiations with Slovakia's neighbours on where to place its investment.

Compiled by Beata Balogová from press reports
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