Hungarian-Korean Economic Cooperation Forum

“Hungary is ready to further strengthen the business relations with South Korea,” the Hungarian Minister of National Economy, Mihály Varga pointed out at the opening of the Korean Economic Cooperation forum in Budapest.

Minister Varga reminded that the two countries celebrate this year the 25th anniversary of the establishment of diplomatic relations between Hungary and South Korea, and during this period, South Korean companies invested USD 2 billion in Hungary, employing close to 25 thousand people here. As an example, he mentioned that Hungary had become the European base of Hankook Tire. It works in the KDB’s regional center also operates here, he added.

According to the Minister, foreign trade turnover between the two countries has already shown impressive figures, but it has further growth potential, as well. Hungary is ready to make more intensive and further diversify trade in the automotive, electronics, pharmaceutical, and information technology sectors, just as that of agricultural or food products.

The business forum was jointly organized by the Chamber of Hungarian Commerce and Industry and the Korean Chamber of Commerce.