Korean companies have been satisfied with existing Hungarian investment projects and they are planning some new ones, as meetings held in Seoul by Minister for National Economy Mihály Varga and Korean economic stakeholders revealed.

The Minister for National Economy met with executives of Samsung Electronics, Hankook Tyre and KDB Bank who showed contentment concerning their investments in Hungary and expressed willingness to launch new ones. There are some ongoing investment projects at the Hungarian subsidiaries of Samsung and Hankook, while KDB Bank continues to operate the Budapest branch as a regional center.

In addition to talks with large enterprises, the Minister for National Economy held a presentation at a business forum organized by the Korean Chamber of Commerce and Trade on business environment and opportunities in Hungary.

Mihály Varga outlined economic measures introduced over the past years which have significantly improved the country’s competitiveness and enhanced investment opportunities. Responding to questions, he also informed the audience about changes within the taxation system, the Government’s pro-business measures, loan schemes and energy policy frameworks.

The aforementioned topics have also been raised and discussed at meetings with representatives and member companies of the Korea Industrial Technology Association, the Korea Importers Association as well as the Korea Financial Investment Association.

Besides talks on economic issues, Mihály Varga also held political meetings with the Secretary General and representatives of the governing Saenuri (New Frontier) Party and he participated at the session of the Parliament’s Committee on Industry, Trade and Energy.

(Ministry for National Economy)