THE CABINET of Iveta Radičová postponed a final decision about whether to support a €90-million investment by South Korea’s Samsung Electronics in its plant in Slovakia with incentives amounting to €28 million, leaving it up to the next government. The incentives would be provided as a form of tax relief between 2011 and 2014 thereby securing 950 jobs, the Sme daily wrote.
Samsung applied for the state aid last September, in order to support modernisation of its production facilities in Galanta. To make its investment more attractive, Samsung has also promised to move part of its research and development activities to Galanta. The company has not elaborated on the scope of these activities in Slovakia and how many people they plan to employ.
Samsung Electronics Slovakia launched production here in 2002. It produces LCD and LED TV sets, LCD monitors, HDD and Blu-ray players and satellite receivers. It employs almost 3,000 people in Galanta and is one of the biggest non-financial companies and exporters in the country.