Prime Minister Viktor Orbán pledged to set up an English-language business school at an event on Tuesday where the Hungarian Government signed a Strategic Partnership Agreement with Hankook Tire.

The Prime Minister said the school, which would be established from a mixture of public and private funds, would indirectly improve Hungary's potential to attract investment. A meeting with Hankook Tire managing director Lee Sang Il before the signing ceremony confirmed this expectation, he added.

He added that the partnership agreement signed today demonstrates that the Hungarian labour force has adapted itself flexibly to the new requirements and features that are vital for Hungary to become a production centre.

The agreement envisages research, development and training, he noted, expressing hope that Hankook would continue to be involved in developing Hungary's educational system.

Lee said Hankook's tire manufacturing plant near Dunaújváros (60 km south of Budapest) represents a bridgehead for the South Korean company's expansion in the European market. Hankook is examining the possibility of further expanding the capacity of the plant, he added.

Hankook's plant in Hungary began operations over five years ago and churns out more than 12 million tires a year. The facility employs 2,200 workers, with 98 percent of its output exported to other European nations.

The Government has already signed similar agreements with Coca Cola Hungary, pharmaceuticals company Gedeon Richter, aluminium producer Köfém-Alcoa, and automakers Daimler AG and Suzuki Hungary.

(Prime Minister’s Office)