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Korean investor may create 800 jobs in Žilina

A NEW plant of Korean company Sungwoo Hitech should be built in Žilina, with an investment worth more than €50 million set to create 300 jobs, while the figure should rise to as many as 800 jobs within five years, Žilina Mayor Igor Choma told the press on December 15.

A NEW plant of Korean company Sungwoo Hitech should be built in Žilina, with an investment worth more than €50 million set to create 300 jobs, while the figure should rise to as many as 800 jobs within five years, Žilina Mayor Igor Choma told the press on December 15.

According to him, the investor is 90 percent sure that it will place its investment in Žilina.

“We are in intense talks with the company’s representatives,” Choma said, as quoted by the TASR newswire. “The city lends full support to the project, which should be located on the former site of Doprastav’s plant.” He added that the Economy Ministry has also become involved.

The unemployment rate in Žilina is 7.9 percent, which is well below the Slovak average of 12.35 percent.

Sungwoo Hitech, according to its own website, has branches in South Korea, India, China, Russia and the Czech Republic. It established a plant in Slovakia in 2006 as a logistics centre for coordinating supplies from Sungwoo Hitech in the Czech city of Ostrava to Kia Motors Slovakia in Teplička nad Váhom, near Žilina.

While the company was initially focused on logistics, it has redirected its attention to production related to the car industry, currently making up as much 70 percent of its activities, TASR wrote.

Source: TASR

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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