South Korea is continuing its investment in Hungary.
South Korean conglomerate company Doosan is investing 32 billion HUF (100 million EUR) in a battery copper foil plant in Tatabanya, in western Hungary.
Péter Szijjártó, minister of Foreign Affairs and Trade, said the company received a 4.7 billion HUF government grant for the project.
The plant will make Doosan the sole supplier of battery copper foil, a key component of electric vehicle batteries, in Europe.
Jongwoo Kim, the head of European operations of Doosan, said construction work on the plant will start this year and is expected to be completed during the second half of 2019.