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Szijjártó discusses business relations in Korea

Int’l Relations

State secretary for foreign affairs and external economic relations Péter Szijjártó in Seoul on Friday discussed opportunities to develop bilateral business ties and further explore South Korean investment projects in Hungary.

Following his talks, Szijjártó told MTI by phone that South Korean companies would soon launch healthcare and car manufacturing schemes in Hungary, but added that the investors would not be named until the projects are officially announced.

Szijjártó met Han Jin-hyun, the deputy minister of trade, energy, and industry, and Cho Tae-yul, the deputy foreign minister, as well as senior officials of six large companies. South Korea's investment in Hungary totals nearly $2 billion, represented by 40 Korean companies, which employ 22,000.

Aside from encouraging further Korean investment, it is a priority for the Hungarian government to promote cooperation between small- and medium-sized companies of the two countries, Szijjártó said. An agreement, signed with the Korean deputy minister for industry, seeks to help medium-sized Korean businesses start operations in Hungary as suppliers to the larger firms, he added.

The two parties also agreed on closer cooperation in nuclear research and education at the Seoul talks.

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