3rd March 2004
Tuesday, December 22nd, 2009
Third time unlucky, Hyundai opts for Slovakia
The Korean car maker Hyundai decided to locate its first production plant in Europe in Żilina (Slovakia) rather than in Kobierzyce near Wroc³aw, marking Poland's third failure to attract major automotive investment over the last few years.
Hyundai wants to start constructing its EUR 700 million factory by June. By 2007, the plant's annual output should reach 200,000 cars and employ some 2,400. The justification of the decision remains somewhat unclear. The representatives of Hyundai maintain, officially and unofficially, that both Poland's and Slovakia's offers had been highly attractive. It's been presumed, that the Koreans were tempted by the labor costs in Slovakia, which are on average about 15% lower than in Poland. Furthermore, as Economy Minster Jerzy Hausner admits, "Hyundai picked the place with better infrastructure. They have a railway siding, they have a high-quality road, there is accommodation for the Korean workers in Żilina. Our offer lacked all these," he said in an interview with Polish Radio. (Puls Biznesu, pp. 1, 2, 4, 5; Gazeta Wyborcza, p. 32) M.K.
From Warsaw Business Journal
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