BUSINESS IN SHORT

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.

Get daily Slovak news directly to your inbox

Top stories

News digest: Sulík presents his pandemic plan, but PM Matovič remains critical

Rules for entering Spain change. Former police chief Gašpar remains in custody. State auctions the 5G network frequencies.

Richard Sulík presented his pandemic plan on November 23.

Which are the largest law firms in Slovakia?

For the first time, the ranking also provides an overview in partial categories of law.

Government has learned little, hesitates to open school gates

Education is a question of rights. So is protesting against the government, but at what costs? Slovakia welcomes hefty investment that comes with a warning sign.

Special regional restrictions and better tracing. SaS has introduced its plan to fight the pandemic

The document is based on eight chapters, which should contribute to economic recovery.

Richard Sulík introduces his plan.