Hungarian state said to have granted Ft 16bn to Hankook

The Hankook tyre factory in Dunaújváros was granted Ft 15.9 billion in non-refundable subsidies, as well as contributions to its training programme and other tax breaks from the Hungarian state, according to the contract posted online Wednesday by the Economy and Transport Ministry. The Municipal Court had ordered the ministry to make public the contract with the South Korean company.

The contract was drawn up in English and has not been translated into Hungarian, Magyar Nemzet reports.

Dunaújváros's Fidesz deputy mayor Lajos Dorkota called the terms granted to Hankook outrageous. The contract is open proof that the government provides preferential treatment to large multinationals ahead of Hungarian companies, he said.

The above story is just one of more than two dozen published today by Hungary Around the Clock, the most comprehensive source of daily English-language news about Hungary. For a free trial of HATC, click here. Hungarian news sources include Népszabadság; Magyar Hírlap; Világgazdaság; Napi Gazdaság; Magyar Nemzet; Népszava; Kossuth Rádió news and Hungarian television's nightly news broadcast.

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