KOTRA Can Help Slovakia

Representatives of the Korea Trade-Investment Promotion Agency (KOTRA) and the Slovak Automobile Industry Association signed a memorandum of understanding in Bratislava on Monday. It was done on the occasion of KOTRA opening an office in Slovakia. South Korea ranked fifth (behind Germany, Czech Republic, Russia and China) in countries importing to Slovakia with 7.3 percent of Slovak imports (€4.39 billion), while Slovak companies' exports to South Korea represented only €109 million, or 0.2 percent of Slovak exports. At the moment there are more than 90 Korean companies operating in Slovakia, mostly in the automotive and electro-technical industry, employing about 26,000 people. The biggest employers are Kia Motors Slovakia, Samsung Electronics Slovakia and Samsung Electronics LCD Slovakia. The biggest share on imports from Korea is health and technical equipment, electrical devices and various means of transportation.