Those in attendance included Minister of Industry and Trade Jan Mládek and CzechInvest CEO Karel Kučera. CzechInvest played a significant role in mediating this investment in the value of CZK 22.8 billion. The South Korean side was represented by officials from Nexen Tire and the ambassador of the Republic of Korea in the Czech Republic, Ha-yong Moon.
The new factory will be the first Nexen Tire manufacturing facility outside of Asia and is intended to supply the whole European market. Tire production will begin in spring 2018 and will bring a large number of new job opportunities to the Ústí region.
“This is a very important and groundbreaking moment for us, as we very much wanted to have our first European factory right here in the Triangle zone near Žatec. We particularly value this site’s strategic location in the middle of Europe and its good transport accessibility. And we will bring up to 1,500 jobs to the region,” said Byung Joong Kang, president of Nexen Tire.