Minister Szijjártó qualified the structure of FDI as “healthy”, with 48% of the investment coming from the East, and 42% from the West. Hungarian investments account for about 10% of...
Minister Varga said all South Korean investments help Hungary evade the economic recession emerging on the back of the sanctions-fuelled crisis.
South Korea has become one of the largest investors in Hungary, with the three largest investment projects of the past years coming to Hungary from South Korea.
Hungary and the Republic of Korea have signed agreements on expanding the number of direct flights between their capitals, Hungarian food exports and Korean language teaching in Hungary.
Trade turnover between the V4 and South Korea even increased “in the black year for the global economy that was 2020”, reaching 20 billion US dollars for the first time.
PM Orbán said his government had looked to South Korea as a “success story” to learn from when it returned to power in 2010.
PM Orbán said he was pleased to learn that South Korea regards Hungary a prominent partner.
The president noted that South Korea replaced Germany as the top investor in Hungary in 2019.
The foreign minister said Hungary is high up on the list of European investment destinations of South Korean companies.
The foreign minister said the official visit will be the first by a Korean head of state in the last 20 years.
Hungary marked the 30th anniversary of Hungarian-South Korean diplomatic ties and paid tribute to the victims of this spring’s ship disaster in Budapest on Saturday.
The Hungarian and South Korean institutes for transport have signed a research cooperation agreement on vehicle industry and e-mobility.