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Investment Breaks Record in Hungary This Year

MTI-Hungary Today 2022.12.21.

The investment record in Hungary has been broken again this year, with some 2,600 billion forints (6.3 billion euros) invested, Minister of Foreign Affairs and Trade Péter Szijjártó announced in Seoul on Tuesday.

He added that this record-breaking sum does not include the largest investment of all time, as the Chinese battery giant CATL will only start building its factory in Debrecen, northeastern Hungary at the beginning of next year.

The biggest investor this year was – for the third time – South Korea, mainly via its e-car sector. German companies came second and Hungarian ones third.

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According to Szijjártó, South Korean companies Samsung SDI and SK Innovation have established electric battery manufacturing in Hungary, followed by an increasing number of suppliers from the East Asian country.

Today we can say that Hungary is not only the European champion of the electric automotive transition, but we can also rightly aspire to the title of world champion,”

the Minister said. “By introducing electric battery manufacturing in Hungary, the Koreans have created the opportunity for the Hungarian economy to remain on a long-term growth path, and we can now avoid the recession that is looming over the European economy,” he added.

Szijjártó met with the heads of six South Korean companies in Seoul to discuss further investments. Szijjártó also met with the South Korean Minister of Trade and Foreign Affairs, and signed a trade and investment promotion Framework agreement with South Korea, which will open up new investment and export opportunities. According to MTI, this makes Hungary the first EU country to sign such an agreement with Korea.

Featured photo via Facebook/Szijjártó Péter

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