South Korean company to invest €13.87 million in Žilina

A South Korean company, Sungwoo Hitech, plans to invest €13.87 million in Žilina. The firm plans to expand its facility making body shell components for passenger cars, an investment that should create 110 jobs, the SITA newswire reported.

A South Korean company, Sungwoo Hitech, plans to invest €13.87 million in Žilina. The firm plans to expand its facility making body shell components for passenger cars, an investment that should create 110 jobs, the SITA newswire reported.

Within its investment plan, the company plans to erect a new production hall and install new production facilities. The firm plans to start realizing its investment plan in the third quarter of this year. The expanded production should be launched in 2012.

The company has asked the Economy Ministry for investment incentives of €4.7 million. In its proposal for provision of investment stimuli, the ministry proposed a contribution of €1.7 million for new jobs while the rest should be in the form of tax relief. The average monthly wage in the plant is expected to be €1,274.

Source: SITA

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

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