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Hungary hosts V4+South Korea summit

Int’l Relations

Moon Jae-in and Viktor Orbán

MTI/Prime Minister's Press Office/Zoltán Fischer

Hungary hosted a summit of the prime ministers of the Visegrád Group and South Korean President Moon Jae-in in the capital on Thursday, state news wire MTI reports.

At a press conference after the summit, Hungarian Prime Minister Viktor Orban said trade between the V4 - Hungary, the Czech Republic, Poland, and Slovakia - and South Korea has grown 40% over the past five years. 

"We hope that cooperation will extend beyond the economy to the areas of science and technology, too," he added.

Orbán said the V4 prime ministers asked Moon to follow the progress of the V4 countries' biggest shared economic endeavor: the construction of a high-speed rail line connecting their capitals. He expressed hope the project would spark the interest of South Korean companies.

Orbán noted that the summit took place as the global economy enters "a new era" and competition heats up as capacities shut down because of the pandemic are reallocated elsewhere.

"We, the countries of the V4, have entered this competition and want to get as big a share of the global investments as possible," he added.

South Korea has a reputation for being one of the leading states in the world in terms of innovation and the V4 would like to use this to its advantage as the global economy advances into the coming period, Orbán said.

He said some global issues had come up at the summit, including climate policy and the situation in Afghanistan as well as its consequences.

Moon said cooperation between South Korea and the V4 is growing stronger and the countries' leaders are committed to even closer ties.

The V4 is an important trade partner and an investment target for South Korean companies, he added.

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