EC endorses investment aid for Hankook Tire

Pharma

The European Commission has reported its authorization of €57.9 million in regional investment aid to Hankook Tire Hungary for the construction of a plant in Rácalmas, finding that the measure favors regional development while limiting the distortions of competition brought about by the state aid.

Thus is the funding in line with the Commission’s guidelines on regional aid, in particular with the rules on large investment projects.

“Hankook Hungary’s investment project is expected to create 950 new jobs in Rácalmas. It will provide a welcome boost to the development of the region without unduly distorting competition in the Single Market,” said Joaquin Almunia EC Vice President in charge of competition policy.

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