SaS: Energy Prices Not Main Reason for Samsung Exit

Bratislava, 2 March (TASR) - Energy prices aren't the main reason why Samsung's television production plant in Galanta (Trnava region) is closing down, as part of the production will move to neighbouring Hungary, which has even higher electricity prices, opposition MP Marian Viskupic (Freedom and Solidarity/SaS) posted on social media on Monday. "The reason for Samsung's departure is the toxic mix created by this government. Expensive energy is only a cheap excuse and a deliberate lie in this case," said Viskupic. The MP didn't dispute the fact that Slovakia has some of the highest electricity prices for companies in the EU, but he noted that Samsung's plant in Galanta doesn't use extremely energy-intensive technologies. "No blast furnaces or metallurgy. According to the information I have, the monthly electricity bills were in the tens of thousands of euros. With revenues of more than €1.7 billion [for 2024], this is a marginal item in the overall context," he added. According to Viskupic, a significant part of production is moving to Hungary, where electricity prices for companies are higher than in Slovakia. He believes that even with higher electricity prices it makes more sense for Samsung to produce where there is 9-percent corporate tax, a lower overall tax burden and less bureaucracy. Following the end of television production in Galanta, the MP expects other companies linked to the plant to leave as well. Further jobs are at risk, therefore. Downplaying the end of television production by saying that other companies have expressed interest in [Samsung] employees isn't appropriate, said Viskupic, as such employees will see their incomes drop. mf/df