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 […]
The Hong Kong-based electronics company Lenovo will manufacture products for data centers and desktops in its brand new facility in Üllő, south of Budapest, in the framework of an investment worth EUR 24.7 million, creating a total of almost 1,000 new jobs. Lenovo was founded in 1988 in Hong Kong and gained global significance in […]
Samsung – such a familiar word for most people – but just a few know what it really means. Samsung in Korean means and symbolizes ‘Be strong and shine brightly forever’. The company was established in 1938 by Lee Byung-chul and over the next three decades, the group dealt with food processing, textiles, insurance, securities […]
HungaroControl Co. Ltd. has received the Transport Company of the Year award from the 170-year-old Budapest Chamber of Commerce and Industry (BKIK) in recognition of the Company's outstanding activities in the field of aviation. BKIK presented the award to the Hungarian air traffic service in recognition of the company's exemplary activities in the framework of […]
As a result of the latest investment, the German technology company Continental's vehicle dynamics test track facility in Veszprém, west central Hungary, is now suitable for the testing of highly automated safety functions and advanced driver assistance systems, following the latest automotive trends, which may strongly contribute to significantly faster development cycle times. Building on […]
Magyar Telekom, the leading Hungarian telecommunications service provider, has announced that based on the decision of the Company's Board of Directors, Gábor Gonda will be the Chief Commercial Officer Enterprise and CEO of T-Systems Magyarország Zrt. as of November 2, 2020. Gábor Gonda takes on his new position as the CEO of T-Systems with 21 […]
Appeninn Asset Management Holding Plc. accounted 4.2 million EUR turnover and 11.4 million EUR EBITDA (interests, profit and loss before taxation and depreciation) for the first half of 2020. Profit and loss before taxation measured 7.4 million EUR, which is lower compared to the same period of the previous year. According to the half-year report […]
