László Palkovics, Minister of Innovation and Technology, along with South Korea’s deputy minister at the science and ICT ministry, Lee Tai-hee, and ambassadors of the Visegrad Group countries signed an agreement on cooperation in research and development on Thursday.
According to MTI, during a South Korean presidential visit to Budapest in early November, the sides announced that the V4 and Korea were planning to improve knowledge-based links. Under the agreement signed by the ministries, a V4-Korea program for basic research will be launched. Hungary plans to invite new applications for support to bilateral research and development projects with South Korea.
The ministry said Korean investments further strengthen Hungary’s role in vehicle production. Hungary has the second largest battery production capacity in Europe thanks to the presence of Korean companies that are market leaders in electric car manufacturing. The trust demonstrated by South Korean companies in Hungary is expected to result in the creation of further jobs in such sectors as digitalization, and the health and defense industries.
Photo credit: kormany.hu