Márton Nagy, the national economy minister, on Wednesday met Yi Kang-Myung, the Chairman-CEO of Sungeel Hitech and other executives of the company to discuss challenges of the battery production industry and opportunities for the green transition, the ministry said. Kyu Dok Hong, South Korea’s ambassador to Hungary, also attended the meeting. Nagy said Hungary is already at the helm of battery production, as the exports of batteries and battery parts now exceeds 5% of GDP, putting the country first in that respect in the European Union. Forging ties with companies like SungEel HiTech, the first company to successfully recover large amounts of raw materials from used lithium-ion batteries, was extremely important in Hungary and Europe, where recycling and reusing its valuable resources is as yet missing, Nagy said. Moreover, Nagy said SungEel supported sustainable technologies to recycle batteries. Hungary must ensure access to the best technologies to recycle large amounts of used batteries in a safe and environmentally conscious way by 2027 at the latest, as well as to reuse the useful materials of spent batteries, he said. To achieve that, the companies and venues investing in that side of the industry should be decided on this year, he said.