New Investments Mark Successful Restart of Economy


South Korean-owned Hanon Systems Hungary is investing 18 billion forints (EUR 52.0m) into expanding capacity at its plant manufacturing climate systems for electric cars, Péter Szijjártó, the minister for foreign affairs and trade, said on Monday. The government is supporting the investment with a 4.6 billion forint grant, he added. The investment will create 40 jobs, pushing the number of Hanon employees in Hungary over 2,000, Szijjártó said.

The foreign ministry had the opportunity to announce three investments with a total value of 96 billion forints on Monday alone, a sign of the successful relaunch of the economy, Szijjártó said. He called South Korean companies important investors and good partners in developing technology. Bilateral trade volume has jumped by 28% last year, followed by a 25% growth in the first quarter of 2021. Meanwhile, South Korea is among the five largest investors in Hungary, he said. Besides Hungary’s successful inoculation campaign and its economic policy focusing on job creation, the relaunch of the Hungarian economy has also been successful thanks to the country’s strengthened ties with the Far East, which is increasing its influence in the world economy, he said.

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