Hankook: Stopped Subsidy Reports False

Hankook has flatly denied reports that the Hungarian government has stopped an $820,000 training subsidy, characterizing them as “misinformation.” One company spokesperson told Tyres & Accessories that, while Hankook was perfectly entitled to claim such a subsidy, the Korean manufacturer hadn’t in fact applied for one. Therefore Hankook maintains that the Associated Press’ earlier report that the Hungarian government had stopped an $820,000 training subsidy payment to Hankook Tire Co. due to violations of the country’s labour laws is totally false.

The report also said that Hungary’s Social and Labour Affairs Ministry said that Hankook could continue receiving the subsidy – negotiated into the country’s efforts to land the passenger tyre plant – once it is found to be in compliance with the country’s labour regulations. However, if Hankook hadn’t actually applied for the aforementioned subsidy, this too must be an example of inaccurate reporting, the spokesman told T&A.