Samsung gets €28-million tax relief to continue producing in Slovakia

Korean company Samsung will not leave Slovakia, the head of its Samsung Electronics division, Boo-Keun Yoon, has promised Slovak Labour Minister Jozef Mihál. Though the announcement was intended to end speculation about a possible move by the Korean firm’s Slovak operations to Romania, Yoon admitted that the production of LCD screens faced serious problems, the SITA newswire reported.

Korean company Samsung will not leave Slovakia, the head of its Samsung Electronics division, Boo-Keun Yoon, has promised Slovak Labour Minister Jozef Mihál. Though the announcement was intended to end speculation about a possible move by the Korean firm’s Slovak operations to Romania, Yoon admitted that the production of LCD screens faced serious problems, the SITA newswire reported.

“I have to confirm that the production of LCD [screens] is in a very tough situation, so we are trying to reduce the number of localities where LCD panels are made,” Yoon said, as quoted by SITA, adding that in Slovakia his company plans to resume production and maintain its factories.

Because of the crisis on the market, the company sought financial help from the Slovak government.

“Economy Minister Juraj Miškov already approved another subsidy for Samsung in the form of tax relief at €28 million,” said Mihál, as quoted by SITA.

He added that the help should mean the Galanta-based company secures almost 1,000 jobs in Samsung and another 1,000 jobs in the supplying companies over the next five years.

Source: SITA

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

Get daily Slovak news directly to your inbox

Top stories

News digest: Slovakia still dealing with the loss of its talent

Economy minister promises extensive support for hydrogen technologies in Slovakia. Far-right supporters protested in front of PM’s house during the weekend.

The far-right ĽSNS organised a protest in front of PM Igor Matovič's house in Trnava.

Hospital manners expose the toxicity of Kollár

Unjustified privileges overshadow some good news of the coalition's work. Halloween testing will not be repeated during advent time.

PM Igor Matovič (l) and Speaker of Parliament Boris Kollár

Sulík’s party benefits from the dispute with PM Matovič

The Hlas party of former PM Pellegrini is rising, too.

Economy Minister Richard Sulík (l) was charged by PM Igor Matovič (r) to purchase millions of antigen tests.

Anyone can publish a book. Authors often avoid publishers

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.