What is being built?
A major investment by a Korean company in the Pest agglomeration
The South Korean Shinheung investment in Monor has been handed over. The state has provided a HUF 3.6 billion subsidy for the HUF 45 billion capacity expansion of the battery parts manufacturer, helping to create seven hundred new jobs
- said at the event on 17 October.
Already in Hungary since 2018
This is the company's first European factory, where 20 million parts for electric batteries will be produced each month for the world's largest car manufacturers. Production of the first Shinheung model began in 2018 at the newly built plant in Monor, as reported by our newspaper on the occasion of its handover reported. The state supported the eight billion forint investment at the time with 769 million forints as a priority development.
Foreign Minister of Foreign Affairs and Trade Péter Szijjártó pointed out at the recent ceremony:
South Korean companies are currently the fourth largest investor community in Hungary, thanks to the fact that the government has provided them with support in sixty-seven cases since 2014.
He also said that as a result of this, Hungarian-South Korean trade has increased significantly, and is now worth more than six billion dollars a year.
Source : Link
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