The government is supporting the investment, which will create 200 jobs, with HUF 5.3bn, Szijjarto said. Most of the plant's products will be exported to Western Europe, while feedstock will come from Hungarian suppliers, he added.

He said there had been "tough competition" to bring the plant, a unit of South Korea's biggest food company, to Hungary. He added that the weight in the global economy was shifting from West to East and that Asian companies were "setting the pace".

More than 300 South Korean companies are present in Hungary, having invested close to EUR 10bn.

In a separate statement, CJ Foods said the plant would start making frozen dumplings and fried chicken products in H2 2026.
 

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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