Minister of Innovation and Technology László Palkovics, South Korea’s deputy minister at the science and ICT ministry Lee Tai-hee and ambassadors of the Visegrad Group countries signed in Budapest an agreement on cooperation in research and development, the ministry said. During a South Korean presidential visit in Budapest in early November, the sides announced that the V4 and Korea were planning to improve knowledge-based links, the ministry added. Under the agreement signed by the ministries, a V4-Korea programme for basic research will be launched. Hungary plans to invite new applications for support to bilateral research and development projects with South Korea.
Korean investments further strengthen Hungary’s role in vehicle production, the ministry said.
Hungary has the second largest battery production capacity in Europe thanks to the presence of Korean companies that are market leaders in electric car manufacturing. The trust demonstrated by South Korean companies in Hungary is expected to result in the creation of further jobs in such sectors as digitalisation, the health and defence industries, the ministry added.