Nexen to start building tire plant in Moravia in the autumn of this year

Construction work on Nexen’s tire plant in the Czech Republic is expected to begin in the autumn of this year, Czech Prime Minister Bohuslav Sobotka said during a working visit to South Korea on Friday. Production at the plant, which should provide around 1,000 new jobs, is expected to begin in 2018. South Korean car maker Hyundai Mobis is also planning to invest in a plant for spare parts in Moravia. South Korea is currently the third biggest Czech business partner outside of the EU. This week the two countries signed a strategic partnership agreement which should expand the scope of cooperation.