TV giant tunes in to Poland, signalling 12,000 jobs

The investor plans to launch production in the first half of 2007 and the whole factory will be completed by 2011 when its production capacity will reach 11 million units-a-year. The Korean investor says it will employ more than 2,000 people in the plant and its products will be sold on the European market. "Our aim is to win a leading position on the fast developing European market of LCD TV sets," stated Duke Koo, the concern's deputy president for global sales. Moreover, LG Electronics, which owns a 44.57% stake in LG.Philips LCD, declared its interest in further investments in Poland. The company, which is currently constructing a plasma TV production line near Mława, wants to build a white goods factory near Kobierzyce that will provide more than 3,200 new jobs. The Ministry of Economy expects that new factories will also draw the LG suppliers to the region. "In total up to 12,000 new jobs may be created near Kobierzyce," stated the Economy Minister Jacek Piechota. Between 2006 and 2011 the Korean investor will receive financial assistance from the government in a form of a grant worth zł.100 million. (Parkiet, p. 9) E.B.