2007-11-27
These allegations were initially released by South Korea’s official news agency, Yonhap News, and repeated in the English language newspaper the Korea Times. Information given to Tyres & Accessories contradicts these reports, indicating a number of factual inconsistencies.
The Korea Times reported that the Hungarian government “has withdrawn its plan to give the world's seventh tyre maker more than 140 million forint (£393,000) in subsidies. However, when speaking with Tyres & Accessories, Hankook Europe public relations manager Felix Kinzer refuted the occurrence of any such event. “Both contract parties are fulfilling their contractual obligations according to the agreement,” stated Kinzer. “Part of these obligations is paying the subsidies according to the progress of the investment.” The more Hankook invests, reiterated Kinzer, the more they will continue to receive in subsidies.
According to the Korea Times, a number of events including forcing workers to work extra hours and permitting unauthorised Korean employees to work at the Dunaujvaros facility were amongst the reasons for the alleged change in the government’s relationship with Hankook.
Government Relations in Hungary on Track, Assures Hankook
A representative from Hankook Tire has commented on published news that the company’s operations in Hungary had been penalised by the Hungarian government as a result of violating national law.
These allegations were initially released by South Korea’s official news agency, Yonhap News, and repeated in the English language newspaper the Korea Times. Information given to Tyres & Accessories contradicts these reports, indicating a number of factual inconsistencies.
The Korea Times reported that the Hungarian government “has withdrawn its plan to give the world's seventh tyre maker more than 140 million forint (£393,000) in subsidies. However, when speaking with Tyres & Accessories, Hankook Europe public relations manager Felix Kinzer refuted the occurrence of any such event. “Both contract parties are fulfilling their contractual obligations according to the agreement,” stated Kinzer. “Part of these obligations is paying the subsidies according to the progress of the investment.” The more Hankook invests, reiterated Kinzer, the more they will continue to receive in subsidies.
According to the Korea Times, a number of events including forcing workers to work extra hours and permitting unauthorised Korean employees to work at the Dunaujvaros facility were amongst the reasons for the alleged change in the government’s relationship with Hankook.
Source: www.tirereview.com
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