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Hankook Receives Investment Loan

admin 2014.08.12.

Korean tire manufacturer Hankook has received a loan from Hungarian Export-Import Bank zrt. and other three commercial banks to develop its production capacity in Rácalmás, reported news agency MTI. The agreement was signed on Monday at the Ministry of Foreign Affairs and Trade in Budapest.

Eximbank, owned by the Hungarian state, and the other three commercial banks are to provide EUR 120 million (38 billion HUF) loan in order to increase Hankook’s production in its Hungarian manufacturing facilities. Rolan Nátrán, CEO of Eximbank said, the South Korean company’s latest plans would increase Hungary’s export by EUR 223 million (70 billion HUF). The loan is financed by Raiffesien , Unicredit, K&H Bank and Eximbank.

László Szabó, state secretary responsible for external economy, hailed the loan a major agreement even in national economy terms. He emphasized, three-quarters of Hankook’s suppliers are Hungarian SMEs (small and medium enterprises). There are currently 66 Korean companies in Hungary providing a total of 22.000 workplaces.

Photo by Conor Luddy


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