Bumchun Precision Comes to Hungary

South Korea's Bumchun Precision will build its first foreign plant in Hungary with an investment of HUF 13.3 billion .

The new factory in Salgótarján, NE of Budapest, will manufacture aluminum battery connectors and will operate as a first-tier supplier to electric car manufacturers . At the official announcement, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó said the government offered to support the investment with HUF 2.65 billion, as the new plant would create 200 jobs. He noted that the two countries mark the 30th anniversary of diplomatic relations this year, adding that Hungary received a record amount of HUF 350 billion in Korean investments since the beginning of the year.

The President of Bumchun Precision, Ri Ki Jeon said at the same event that the company's culture is based on continuous development and the decision to come to Hungary was supported by the availability of a trained local workforce, advanced industrial infrastructure and favorable logistics.