Marton Nagy - Photo:

National economy minister meets South Korea’s minister of SMEs, startups

Marton Nagy, the national economy minister, on Friday met South Korea's minister of SMEs and startups, Oh Youngju.

The sides discussed bilateral economic ties and reviewed good practices boosting the competitiveness of SMEs, the ministry said.

Hungary has maintained diplomatic relations with South Korea since 1989 and the country is currently Hungary’s 12th largest trade partner, with bilateral trade coming close to 9 billion dollars. South Korea is Hungary’s third biggest foreign investor, with combined investments of 9.5 billion dollars.

Hungary’s government has signed strategic partnerships with South Korean companies Hankook Tire, Samsung Electronics and KDB Bank as well as with battery manufacturer Samsung SDI.

South Korean companies appreciate the Hungarian government’s support and commitment to innovative industries, Nagy said.

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