Government Relations in Hungary on Track, Assures Hankook

A representative from Hankook Tire has commented on published news regarding the company’s operations in Hungary, allegations initially released by South Korea’s official news agency, Yonhap News, and repeated in the English language newspaper the Korea Times.

The Korea Times reported that the Hungarian government has cancelled previously agreed upon subsidy payments. However, when speaking with Tyres & Accessories, Hankook Europe public relations manager Felix Kinzer refuted the occurrence of any such event. “Both contract parties are fulfilling their contractual obligations according to the agreement,” stated Mr. Kinzer. “Part of these obligations is paying the subsidies according to the progress of the investment.” The more Hankook invests, reiterated Kinzer, the more they will continue to receive in subsidies.