The Minister of State for Economic Diplomacy announced on Wednesday in Budapest that Hungarian companies reached unique export success in South Korea.
Levente Magyar reminded that Prime Minister Viktor Orbán was accompanied by 104 representatives of 88 Hungarian companies on his official visit to South Korea. Feedbacks from these companies revealed that business transactions worth HUF 23 billion were carried out in the East Asian country.
This also shows that we are on the right track; it was the right decision to launch the “Opening to the East” policy, the Minister of State said. Levente Magyar called it a wise decision to establish the network of national trading houses; according to him, this organisation is the key to the successful export development of Hungarian SMEs.
Hungarian National Trading House CEO György Kerekes said that business transactions worth almost HUF 23 billion were concluded in several sectors of the economy. For example, an agreement was reached on transporting top quality Hungarian food (pork) or eiderdowns; a Hungarian company will export medical equipment, another will export noise barriers to South Korea, he recited.
In addition, the Trading House succeeded in selling a technological development with which the functioning of urban companies can be coordinated to minimise air pollution, the trading house CEO added.
György Kerekes said that the trading houses, of which 25 operate currently all over the world, offer complete business management services for Hungarian SMEs exporting to markets outside Europe; they offer assistance in every field, including administration such as filling out customs declarations.
The national network engaged in SME development works on a commission basis; it receives a share of the profit generated by the completed business transactions as remuneration for its services.
(Ministry of Foreign Affairs and Trade)
