Samsung SDI to Invest HUF 22.5 bln in R&D Project in Hungary

Innovation

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South Korea's Samsung SDI will invest HUF 22.5 billion in a research and development project in Hungary, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Thursday, according to a report by state news wire MTI.

The project will boost battery capacity and safety, while improving production efficiency, Szijjártó said. The state is supporting the investment, which will create "dozens" of high value-added jobs, with HUF 5.5 bln, he added.

The project will be the biggest R&D investment in Hungary to date.

Szijjártó noted that bilateral trade between Hungary and South Korea rose 75% in the first half of the year to more than EUR 5 bln. South Korean companies form the fourth-biggest group of investors in Hungary, he added.

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