As turning towards Asia in Hungarian politics has further increased the significance of relations with Korea for Hungary, so has the significance of the Central-European region increased for Korea in recent years: within the European continent, our region has entered the focus of the building of Korean political and economic relations, Szilveszter Bus, Deputy State Secretary at the Ministry of Foreign Affairs and Trade said on Thursday in Budapest.
The essence of our policy aimed at the development of relations with regions outside Europe is to reinforce cooperation with partners, markets and regions with which Hungary does not maintain traditional relations, and to turn the resources that are available in those regions to the benefit of our country. Our goal is to enable Hungarian businesses to enter new markets, and to acquire investors from new regions who are ready to invest in Hungary. Within the framework of these efforts, we attribute particular significance to Korea, the Deputy State Secretary of the Ministry of Foreign Affairs and Trade stressed at the conference entitled „Relations between South Korea and Hungary” organised by the State Secretariat for Cultural Heritage and Priority Cultural Projects at the Prime Minister’s Office.
South Korea is Hungary’s third most significant trade partner on the Asian continent. Our exports have dynamically grown in recent periods, and our foreign trade balance, too, is improving. Bilateral trade relations increased by 8.6 per cent in 2015, and amounted to USD 1.9 billion. Hungarian exports to South Korea increased by 42.5 per cent last year.
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Mr Bus highlighted: Korean investors play a key role in the Hungarian economy, and the estimated value of their investments exceeds USD 2 billion. With this amount, South Korea is the third most significant Asian investor in Hungary. The approximately 30 major Korean businesses which are active in Hungary provide jobs for 23,000 Hungarians. The iconic Korean companies which have settled in Hungary, such as Samsung and Hankook, are continuously developing their manufacturing bases and are broadening their activities, which clearly indicates that they appreciate the Hungarian investment environment and may, it is to be hoped, serve as good examples for further investments from Korea.
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The Deputy State Secretary further pointed out that Hungary firmly supports the North Korea policy of the Government in office in Seoul and their initiatives which are designed to enhance the stability of the peninsula. He said: both countries are committed to regional security, and are determined to enhance the fight against global challenges.
(MTI)
