EMCC European Monitoring Centre on Change

Sungwoo Hitech

Company/Organisation:
Sungwoo Hitech

Geographic Location

Country: Czechia
Region: Moravskoslezsky; Moravskoslezsko
Location of affected unit(s): Ostrava

Company

Sector: Manufacturing
Manufacture of transport equipment
29.2 - Manufacture of bodies (coachwork) for motor vehicles; manufacture of trailers and semi-trailers

Employment Effects

Announcement Date: 12-09-2005
Type of Restructuring: Business expansion
Employment Effect Start: 01-07-2006
Foreseen End Date: 31-12-2008
Planned Job Creation: 1600

Additional Information

In September 2005, South Korea´s leading automotive component manufacturer Sungwoo Hitech decided to build a new factory for car body parts production in Ostrava with a total investment of 2.5 billion CZK. The company promised to create up to 1,500 jobs by 2008. The production was launched during summer 2006 and 800 workers were already hired. On 24 April 2007, it was reported that the company intends to build new pressing and painting shops in June 2007 and double its production by hiring another 800 people. The full operation is scheduled in May 2008. The overall investment will reach the amount of USD 200 million (CZK 4.1 billion). Most of its production will be exported to KIA car factory in Žilina (Slovakia) and Hyundai factory to be built in the Czech Nošovice city.