South Korean Minister of Economy Ahn Duk-geun and Minister of Foreign Affairs and Trade Péter Szijjártó agreed on this in Dunakesz yesterday.
The head of Hungarian diplomacy reported on the meeting in a Facebook post. As he wrote: because of the failed Brussels sanctions, Europe is rapidly moving towards recession. In this situation, the importance of the investments of large Eastern companies with reliable capital increases significantly.
Thanks to the balanced economic policy of recent years, the lowest taxes in Europe and political stability, large Eastern companies see Hungary as an attractive investment destination, he added. He recalled that every year since 2019, the most investments come to our country from an Eastern country: while in 2019 and 2021 it was South Korea, then in 2020 and this year it was China.
These investments in the East create the opportunity for Hungarians to stay out of the European recession, he believed.
He emphasized: since South Korean companies are among the leaders of the world market in the electric car industry, their investments in Hungary are of crucial importance. That is why they agreed to conclude the investment promotion and trade development agreement, which will promote further investments in Hungary.
He reminded that Samsung SDI, SK Innovation, W-Scope and other South Korean companies related to the electric car industry have brought and are creating more than ten thousand jobs in Hungary in the recent period. Meanwhile, the bilateral trade turnover also set a huge record, reaching 5 billion dollars for the first time last year. It is also good news that the export of Hungarian meat products can soon resume to one of the largest Asian receiving markets, he listed.
Finally, he emphasized that personal relationships and gestures are of great importance in the Eastern world, which is why they had a meeting with Ahn Duk-geun in a restaurant on the Danube in Dunakeszi, not in formal circumstances in Budapest.
Source: Magyar Hírlap
Image: Facebook
