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Samsung to stay in Slovakia

KOREAN firm Samsung will keep its production facility in Slovakia, the head of the company’s Electronics Division, Boo-Keun Yoon, promised Slovak Labour Minister Jozef Mihál.

KOREAN firm Samsung will keep its production facility in Slovakia, the head of the company’s Electronics Division, Boo-Keun Yoon, promised Slovak Labour Minister Jozef Mihál.

Though the announcement was intended to end speculation about a possible relocation of the company’s Galanta-based operations to Romania, Yoon conceded that the company is facing serious problems in some segments of its electronics business, the SITA newswire reported.
“I have to confirm that production of LCDs 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.

The company requested additional financial assistance from the Slovak government.

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

The labour minister added that this tax relief should mean that Samsung’s production facility in Galanta will retain almost 1,000 jobs over the next five years, as well as another 1,000 jobs in Slovak-based supply companies.

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