Finland’s Wolt could become a success story and a global brand, according to Lukasz Gadowski, the co-founder of Delivery Hero, one of the largest online food ordering networks in the world, which also owns the Hungarian food delivery firm Netpincér. The German-Polish venture capital entrepreneur invests EUR 7.5 million in Wolt, which is present in […]
SungEel Hitech Co. Ltd. of South Korea has grown into one of the world's leading secondary battery recycling companies since its founding in March 2000 with the philosophy of “finite resources as infinite resources to preserve the green environment.” The plant of its Hungarian subsidiary was inaugurated in March 2019 in Szigetszentmiklós, just south of […]
The Kiscelli Museum in Budapest has opened one of the most significant independent exhibitions in the region, a series of all-arts events called Design Without Borders that dates back fifteen years. It is an exhibition series of designers, furniture, textile and jewelry designers and visual artists from Austria, the Czech Republic, Denmark, Estonia, Germany, Hungary, […]
An EUR 140 million investment is in focus in Nestlé's production center in Bük (W Hungary), which supplies pet food to over 50 countries around the world. With this development, the factory's capacity will be increased by an additional 30%, at the same time creating 160 new jobs, which will soon make the plant into […]
If you happen to walk around the Normafa area, you may hear the noise of construction from what was known as the Svábhegy Sanitarium for decades. A new residential area is being born, one that will certainly attract the rich&famous of Hungary. János Gárdai, the Managing Director of White Star Real Estate gave Diplomacy&Trade a […]
Wellis Magyarország Zrt. (Wellis Hungary Co. Ltd.) is to implement a HUF 8.5 billion (EUR 23.6 million) production capacity increasing investment in Ózd, NE Hungary, with the Hungarian government incurring over one third of the costs: HUF 3 billion (EUR 8.3 million) in non-returnable funding. In the framework of this project, Europe's leading jacuzzi manufacturer […]
A leading electrolyte supplier for major battery makers of South Korea, Dongwha Electrolyte is planning a business expansion in Hungary. Dongwha Electrolyte is the first South Korean company to domestically produce electrolyte products for Lithium-ion batteries and is currently operating production facilities in Korea, China, and Malaysia. Due to EU legislation setting mandatory emission reduction […]
KDB Bank Europe Ltd. (KDBE), a subsidiary of the South Korean Korea Development Bank, has been present on the Hungarian financial market since 1990. KDBEPresident&CEO, Min In Hwan tells Diplomacy&Trade how the bank developed over these three decades and theservices it offers its clients today. Explaining how many of the bank’s original objectives have been […]
LG Electronics Hungarian subsidiary acts as a regional center, its office in Budapest not only supervises the company’s activities in Hungary but is also responsible for the coordinated commercial activity of ten other countries in East Central Europe and the Western Balkans. As LG Electronics Hungary Managing Director, Hyeong Tae Kim explains to Diplomacy&Trade, “LG’s […]
Last year, the Republic of Korea was the largest source of foreign direct investments in Hungary. The Hungarian Investment Promotion Agency (HIPA) played a pivotal role in many of these investment projects as its CEO, Róbert Ésik explains to Diplomacy&Trade. He points out that 2019 was another successful year for Hungary in terms of foreign […]
The aluminum processing company Howmet-Köfém Plc. has laid the cornerstone of its new factory in Székesfehérvár, SW of Budapest. With the new facility, the company will significantly increase its production capacity for die-cast aluminum Alcoa Wheels, the company’s lightest heavy-duty truck and bus wheel. The investment totals HUF 9.26 billion and the Hungarian government will […]
Providing medical solutions that improve people’s quality of life on a daily basis, while also constantly working on the innovations of the future – this dual mission of the Swiss multinational healthcare company Roche is also the driving force for the management and staff of the Hungarian subsidiary established back in 1984. Roche is the […]
A solar park by the Astrasun Group with a capacity of about one and a half megawatts, built with an investment of HUF 600 million in Csurgó, SW Hungary was handed over this Friday, October 2. The investment project took place in a recultivated landfill in an area unsuitable for agricultural cultivation. The park is […]
It was announced in February this year that Lotte Aluminium will soon produce aluminum anode foils for batteries near Tatabánya, west of Budapest. The company will serve enterprises that manufacture batteries for electric vehicles, and plans to supply them with some 18,000 tons of foil annually. “The EU is strategically pursuing an eco-friendly policy and […]
The Korea Trade and Investment Promotion Agency (KOTRA) is both a Trade Promotion Organization (TPO) and an Investment Promotion Agency (IPA) representing the Korean government. The organization opened its Budapest office (Korea Business Center) in 1988, at the start of Hungary’s economic (and political) transformation. “Because of our early arrival, we have a deep understanding […]
