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PM Orbán: Talks on Setting Up Korean University Campus in Budapest Has Begun

MTI-Hungary Today 2021.11.04.

Negotiations on setting up a large Korean university campus in Budapest have begun, Prime Minister Viktor Orbán said on Wednesday.

Addressing the opening of a V4-Korea Business Forum in Budapest, Orbán said that the existing good and friendly relations between Hungary and the Republic of Korea would be raised to a strategic level and economic relations would be expanded to include science, research and education.

Orbán said Hungarians find it difficult to understand how it is possible that South Korea, which was among the poorest countries in the world some fifty years ago, can currently produce the 12th largest GDP globally.

He said his government had looked to South Korea as a “success story” to learn from when it returned to power in 2010.

PM Orbán: South Korean President's Visit to Further Elevate Bilateral Ties
PM Orbán: South Korean President's Visit to Further Elevate Bilateral Ties

Orbán praised South Korean companies in Hungary for their "fantastic investments" and for their discipline as business partners.Continue reading

Orbán said the country offered an example of how tradition must be combined with technology, family must be “placed above all”, the economy is work-based and there is life-long learning, national identity is strong, regional logistics advantages are put to use, and planning is for the long term.

Orbán noted that bilateral trade between Hungary and South Korea has grown by a factor of ten in the past decade. South Korean companies are the fourth-biggest group of investors in the country and have projects worth 4 billion dollars underway, he said. Talks are ongoing on the launch of a further 16 big South Korean investments, he added.

Gov't: Administration Steamlined for South Korean Companies
Gov't: Administration Steamlined for South Korean Companies

South Korean companies can expect completely hassle-free administration during investment and trading operations in Hungary, the minister of foreign affairs and trade said.Continue reading

“The broader and deeper cooperation is between South Korea and the European Union, between South Korea and the Visegrad Group, and between South Korea and Hungary, the sooner the whole of the European continent can regain its competitiveness in the global economy,” he said.

Featured photo by Zoltán Fischer/PM’s Press Office