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Why is S. Korea's Bumchun Investing HUF 21 billion in N.E. Hungary?

• 24 Jul 2024 12:54 PM
• Hungary Matters

BC GEN Hungary, the local unit of South Korea’s Bumchun, is investing 21 billion forints to triple battery terminal capacity at its base in Salgótarján, in north-eastern Hungary,

Péter Szijjártó, the minister of foreign affairs and trade, announced on Tuesday. The investment creating 400 jobs is receiving state support of 3.75 billion forints, Szijjártó said.

He noted that Hungary is home to manufacturing bases of all three big premium German car makers, while five of the world’s ten biggest battery makers are located in the country.

Hungary has become a “meeting point” for investments from the East and the West that will ensure the country is “among the frontrunners” of the electromobility transition, he added.

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