South Korean FM Says Further Investment Likely In Slovakia

April 13, 2006
South Korean Minister of Foreign Affairs and Trade Ban Ki-moon said on April 12 he hoped to see stronger economic ties and further investments in Slovakia, where Hyundai subsidiary, Kia, and Samsung are already implanted. "I am very happy to see ...

South Korean Minister of Foreign Affairs and Trade Ban Ki-moon said on April 12 he hoped to see stronger economic ties and further investments in Slovakia, where Hyundai subsidiary, Kia, and Samsung are already implanted.

"I am very happy to see increased trade relations as well as investments by many big companies like Hyundai/Kia and Samsung and many others," he said during a joint news conference with Slovak Foreign Minister Eduard Kukan. "While I expect that the number of investments and the opportunities for bigger cooperation will grow, it would also be necessary for the Slovak government to create favorable conditions for more investment," he added.

Kia's first European factory is currently under construction at Zilina, in the north of Slovakia. It is due to start production at the end of the year with an annual capacity of 200,000 vehicles, a total that could rise to 300,000. Kia is investing up to one billion euros (US$1.21 billion) in the plant.

Kia's arrival in Slovakia, a member of the EU since 2004, has prompted a wave of South Korean sub contractors to follow in its wake.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Decarbonization Navigator: A Toolkit for Organizations

Sept. 28, 2023
The increasing urgency of addressing climate change along with stakeholder pressures are driving the need for organizations to prioritize decarbonization. Discover how to start...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!