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Slovakia celebrated 20 years as an independent nation and 20 years of diplomatic relations with Korea in a reception at Seoul Millennium Hilton Hotel on Monday.
Slovakia achieved independence on Jan. 1, 1993.
“We Slovaks struggled for centuries for national existence and statehood,” Slovak Ambassador to Korea Dusan Bella said in a moving speech before assembled guests, government officials and foreign diplomats. “Jan. 1, 1993, symbolizes the birth of a sovereign Slovakia and is a starting point of the modern history of the Slovak nation.”
In the two decades since emerging from Soviet occupation, Slovakia has fully integrated into the European community.
Only two other Eastern European nations have integrated as thoroughly as Slovakia ― Slovenia and Estonia ― by adopting the euro in addition to EU and NATO membership.
Slovakia is also a member of the OECD.
Korean automakers looked to Slovakia early on as a manufacturing platform to export cars into Western Europe.
Slovakia has become the Detroit of Europe, with the world’s highest per capita production of cars, including Germany’s Volkswagen, France’s Peugeot Citroen and Korea’s Kia, as well as a legion of parts suppliers.
In addition to the $1 billion Korea poured in 2011 through electronics and car factories, Europe is estimated to have invested an additional $1.5 billion that year to expand production lines.
After reaching the milestone of 1 million cars in January 2012, Kia Motors Slovakia manufactured 300,000 cars and half a million engines in 2012.
“Over the last 10 years, thanks to significant Korean investment, Slovakia dramatically strengthened its relations with Korea,” Bella said. “Investors learned that doing business in Slovakia means doing business in a Korea-friendly country.”
Slovakia hosts flagship Korean companies like Kia Motors and Samsung Electronics, as well as 80 other Korean companies, he said.
Bella said that two-way trade reached about $7 billion in 2012, a huge jump from $120 million in 2003.
In a speech at the reception, Deputy Minister of Foreign Affairs Kim Kyu-hyun said Slovakia and Korea have both been described as economic tigers for the fast GDP growth rates, Korea as an Asian tiger and Slovakia as a “Tatra Tiger.”
The name “Tatra Tiger” derives from the local Tatra Mountains and the phenomenal growth in the Slovakian economy in 2002-2007.
By Philip Iglauer (ephilip2011@heraldcorp.com)
Slovakia achieved independence on Jan. 1, 1993.
“We Slovaks struggled for centuries for national existence and statehood,” Slovak Ambassador to Korea Dusan Bella said in a moving speech before assembled guests, government officials and foreign diplomats. “Jan. 1, 1993, symbolizes the birth of a sovereign Slovakia and is a starting point of the modern history of the Slovak nation.”
In the two decades since emerging from Soviet occupation, Slovakia has fully integrated into the European community.
Only two other Eastern European nations have integrated as thoroughly as Slovakia ― Slovenia and Estonia ― by adopting the euro in addition to EU and NATO membership.
Slovakia is also a member of the OECD.
Korean automakers looked to Slovakia early on as a manufacturing platform to export cars into Western Europe.
Slovakia has become the Detroit of Europe, with the world’s highest per capita production of cars, including Germany’s Volkswagen, France’s Peugeot Citroen and Korea’s Kia, as well as a legion of parts suppliers.
In addition to the $1 billion Korea poured in 2011 through electronics and car factories, Europe is estimated to have invested an additional $1.5 billion that year to expand production lines.
After reaching the milestone of 1 million cars in January 2012, Kia Motors Slovakia manufactured 300,000 cars and half a million engines in 2012.
“Over the last 10 years, thanks to significant Korean investment, Slovakia dramatically strengthened its relations with Korea,” Bella said. “Investors learned that doing business in Slovakia means doing business in a Korea-friendly country.”
Slovakia hosts flagship Korean companies like Kia Motors and Samsung Electronics, as well as 80 other Korean companies, he said.
Bella said that two-way trade reached about $7 billion in 2012, a huge jump from $120 million in 2003.
In a speech at the reception, Deputy Minister of Foreign Affairs Kim Kyu-hyun said Slovakia and Korea have both been described as economic tigers for the fast GDP growth rates, Korea as an Asian tiger and Slovakia as a “Tatra Tiger.”
The name “Tatra Tiger” derives from the local Tatra Mountains and the phenomenal growth in the Slovakian economy in 2002-2007.
By Philip Iglauer (ephilip2011@heraldcorp.com)
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Articles by Korea Herald
