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Hungary to create more investment opportunities for Korean firms

Hungary is to create more investment opportunities for South Korean firms, said Hungarian Foreign Minister Kinga Göncz on Friday in Seoul.

Göncz assured South Korean President Roh Moo Hyun that South Korea was a „key partner” for Hungary in Asia, Roh's office reported. Budapest in addition had an interest in supporting the exchange of people from both countries. In reply, Roh said the steps that the Hungarian government had already taken to enable Korean companies to expand in Hungary were „instrumental in improving substantive collaboration.”

According to South Korean news agency Yonhap, the estimated volume of investment of South Korean firms in Hungary is currently at around $8 billion. Roh also noted that Göncz after her arrival for a three-day visit on Thursday was the first foreign minister of a third country to visit the inner-Korean industrial part in the North Korean border city of Kaesong. The Kaesong visit contributed to peace and stability on the Korean peninsula, Roh said. (news.monstersandcritics.com)