Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = SK Innovation announced that it would receive 90 million euros(about 120.9 billion won) in subsidies from the Hungarian government for the construction of a battery plant.

SK Innovation is building the second European plant in Komarom, Hungary with an annual production capacity of about 10 gigawatt hours (GWh) by investing about 945 billion won. The plant will be completed this year and will start commercial operation next year.

In the EU(European Union), individual countries must obtain approval from the EU Commission when they pay large amounts of aid to certain companies.

The EU Commission approved the payment in 10 months after reviewing the validity of the subsidy that the Hungarian government is trying to pay to SK Innovation since September last year.

The EU Commission judged that the support for SK Innovation could develop the European Union’s economy in a balanced way and have a great effect of creating jobs.

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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