Czech Republic signs contract with Korean firm Hyundai Mobis, which will create 900 jobs
1 Aug. 2014 | CzechInvest | Czech Prime Minister Bohuslav Sobotka and Myung Chul Chung, president of Hyundai Mobis, signed a contract on the second biggest investment of the past five years in the Czech Republic and the third most significant Korean investment in the country overall.
The signing ceremony was also attended by Minister of Industry and Trade Jan Mládek and Ondřej Votruba, acting CEO of CzechInvest.
Hyundai Mobis is planning to build a plant for manufacturing vehicle headlamps in the Ostrava-Mošnov Strategic Industrial Zone in the Moravia-Silesia region, which is among the country’s regions suffering from high unemployment. The company intends to invest up to CZK 4 billion in the region in future. In the initial phase of the project, Hyundai Mobis will create 600 jobs, with that number rising to more than 900 when the factory comes into full operation in 2021.
“The company will receive investment incentives in the Czech Republic. The maximum state-aid intensity will amount to CZK 502 million in this case. However, the provided funding will be returned to the state nearly fourfold, specifically in the form of direct employment and related income taxes and payroll taxes, as well as indirect employment in the form of suppliers, transport and services, and other contributions such as construction and technology purchasing,” says Ondřej Votruba, acting CEO of CzechInvest.
For more information please contact the CzechInvest Press Centre
Petra Menclová, spokesperson, phone: +420 296 342 832, petra.menclova@czechinvest.org
Contact to Office of the Government of the Czech Republic:
MgA. Alena Buštová, PR and Marketing Department, phone: +420 224 002 596, bustova.alena@vlada.cz
