Korean E-Car Battery Parts Maker Expand Plant in Hungary

  • 8 May 2023 12:59 PM
  • Hungary Matters
Korean E-Car Battery Parts Maker Expand Plant in Hungary
Countries drawing investments of electric car manufacturers will be the “winners” of the new economic world order, Peter Szijjártó, the minister of foreign affairs and trade, said.

Announcing the expansion of a plant of South Korean Sang-A Frontec, which manufactures plastic parts for electric car batteries, Szijjártó said South Korean companies are the fourth largest group of investors in Hungary.

Bilateral trade jumped by 37% last year to nearly 7 billion dollars, he said.

The 10 billion forint (EUR 26.7m) investment in Szada, near Budapest, has received a 1.4 billion forints in government grant, and will create 55 jobs, he said.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports