New Asian Investments in the Czech Republic

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Office of Commercial Affairs, Royal Thai Embassy Prague, CZECH REPUBLIC NEW ASIAN INVESTMENTS IN THE CZECH REPUBLIC Investors from Asia has shown strong interest in Czech companies in last few months. After Chinese investments (following the visit of Czech president Mr. Milos Zeman to China in September 2015) worth EUR 0,5 bil. in 2015, another potential investor is South Korea. In December 2015, official visit of Korean president Ms. PAK KUN-HJE to CZ, accompanied by business delegation of more than 100 members, will take place. South Korea shows interest in investments in automotive industry and nuclear power engineering. Up to now, 3 biggest Korean investments in the Czech Republic are: 1. HYUNDAI car factory in Nosovice built in 2006, began series production in 2008, value of investment EUR 1,1 billion, 3 000 jobs created 2. NEXEN TIRE – value of EUR 850 mil., creation of more than 1 500 new jobs in Triangle Industrial Zone near Žatec, car tyres factory will be open in 2018 and yearly volume of production is supposed to reach 12 million pcs 3. HYNDAI MOBIS – car parts maker, announced in 2015, value of EUR 150 mil., scheduled to open in 2017 in Ostrava Mošnov and create 900 new jobs. Hyundai Mobis will produce car lamps for Hyndai manufacturing operations in the Czech Republic and Slovakia Other South Korean investments in the Czech Republic include the Sungwo Hitech plant (2006), producing car body parts, and the Plakor Czech company, producing plastic component parts for South Korean car markers Hyundai and Kia Motors. In 2009, South Korean engineering group Doosan bought Czech Plzeň-based company Škoda Power (now Doosan Škoda Power), one of the five biggest turbine producers in the world. Also, in 2013 Korean Air made capital entry into Czech Airlines. Nowadays, Korean Air operates 8 direct flights between Prague and Seoul per week. As for investment strategy of Korea and China, there are marked differences. While Chinese investors are focused on large companies and brands, Korean investors are interested in smaller companies worth below EUR 100 million. For both countries, the Czech Republic due to its strategic location will play the role of gateway to Europe. Office of Commercial Affairs, Royal Thai Embassy PRAGUE, CZECH REPUBLIC November 2015 .

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