The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
240 jobs Number of planned job creations
Announcement Date
19 January 2017
Employment effect (start)
Foreseen end date
31 December 2018
Description
South Korean Hyunnam, based in Krasno nad Kysucou, is expanding its business and is creating 240 new jobs. Hyunnam has been active in Slovakia since 2014, when the company invested about €12 million in building a new production plant there. Presently, the company employs 600 workers who produce components for South Korean car manufacturing companies operating in Slovakia and in the Czech Republic. About 30% of the production is supplied to Kia Motors in Zilina, and about 70% to Hyundai in Nosovice. The new investment will amount to about €17 million and the production in the new hall is scheduled to start at the end of 2017. The Slovakian Government is supporting the investment through state aid amounting to €5.9 million. The major part of the state aid will be in the form of tax breaks.
Sources
19 January 2017: Krasno nad Kysucou
8 February 2017: Hospodárske noviny
Citation
Eurofound (2017), Hyunnam, Business expansion in Slovakia, factsheet number 90261, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90261.
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