Hyundai plant in Nosovice to be postponed, Pravo reports

The Pravo daily reports today that South Korean car maker Hyundai has decided to delay the construction of its car plant in Nosovice, Moravia after its chairman Chung Mong-koo was sentenced to three years in prison for embezzlement. A spokesman for Hyundai's Czech branch, has denied the claim, saying that only the opening ceremony for the plant has been postponed, not the actual construction. The planned car-manufacturing facility should provide jobs for around 2900 people when it enters its mass production phase in 2009, and make around 200,000 cars a year.