Vice-chairman Chung and Minister Tošovský in the middle, first to the right former Governor Tošenovský, to the left Ambassadors Cho and Olša, jr. and other officials and guests

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Hyundai Motor Car Co. held a ceremony to officially mark the completion of its plant located in a little village of Nošovice close to industrial hub of the Czech Republic, the city of Ostrava, on Sept. 24, 2009. The ceremony was attended by about 500 Hyundai and affiliated and subcontractor companies´ representatives and employees and the Czech government officials, including Hyundai Vice Chairman Chung Eui-sun, the Minister of Industry and Trade of the Czech Republic Vladimír Tošovský, former governor of Moravian-Silesian region Evžen Tošenovský, and both Korean and Czech ambassadors to the other countries Cho Sung-Yong and Jaroslav Olša, jr.

"The Czech plant will produce strategic European models of the highest

quality," Chung Eui-sun said at the ceremony and added that the company will work in concert with its employees to establish the Czech plant as an exemplary automobile manufacturing facility. "The plant will play an essential role in the company`s global production network,“ as it is equipped with the latest manufacturing facilities including fully automated body assembly line and environmentally friendly painting facility, the company said.

Czech minister Vladimír Tošovský added, that he is very happy that car makers from all over the world found the Czech Republic interesting country for their investment, as not only local Czech car producers Škoda and Tatra, but also Japanese Toyota, French Renault and German Volkswagen are active in this sector.

Work on Hyundai´s Nošovice plant began in April 2007 and the construction was

completed late last year, the plant began producing vehicles in November. So far, the company has put in 1 billion euros ($1.47 billion) into its Czech operation, which has currently an annual capacity of 200,000 cars. A further 120 million euros will be put into the plant to raise its production capacity to 300,000 units by 2011.