A Hyundai Motor spokesman on Monday denied media reports that the company has made any final decision about where to base a new Hyundai assembly plant in Central Europe, Dow Jones reported.

"Nothing has been decided yet, everything is still in the process. We never said we have picked the Czech Republic to be our first site of the Hyundai/Kia plant," Jake Jang, head of global public relations at Hyundai Motor, told Dow Jones Newswires from Seoul.

Media reports quoted a Hyundai source as saying the car company had settled on the Czech Republic, Dow Jones said.

An official announcement about a location for the €1 billion plant won't come before March, Jang told Dow Jones, adding that skilled labour and wages are two priorities the company is keeping in mind as it scouts locations for a plant, construction of which would begin in 2005.

Dow Jones noted that a number of media outlets have reported in recent weeks that the Czech Republic is seen as the leading candidate for the plant due to its location and prior heavy investment in the automotive sector.

Poland, Slovakia and Hungary are also said to be in the running for the new Hyundai plant, Dow Jones said, noting that Hyundai representatives toured the region recently as part of their evaluations.