More Korean Firms Eyeing Investment in E.Europe
Eastern Europe is emerging as a new investment target for Korean companies. Korea's largest steelmaker POSCO has recently opened a branch in the Czech Republic and plans to expand into other countries in the region. Hyundai Motor will also begin the construction of a billion-dollar factory in the Czech Republic in November. Affiliate Kia Motors will start full production at its plant in Slovakia in December.
Industry observers say Eastern Europe's cheaper labor is attractive to Korean manufacturers that hope to make inroads into the European market.
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