Surprising: China has become the largest foreign investor in Hungary

Hungary’s largest green-field investments are connected to China that has become the largest foreign investor in the country, a state secretary of the foreign ministry said in Godollo, near Budapest, on Thursday.

Speaking at the Fujian Investment Forum, Levente Magyar said that the visit of a delegation from China’s south-eastern province was “part of an invisible series”.

Chinese ties have a “special role” in Hungary’s foreign policy, as shown by high-level visits such as the one paid by President Xi Jinping earlier and now by the Fujian governor, he said.

Photo: facebook.com/szijjarto.peter.official

Minister discusses battery recycling with SungEel HiTech executives

National Economy Minister Márton Nagy met executives of South Korea’s SungEel HiTech, a leader in lithium-ion battery recycling, at his office in Budapest on Thursday.

Photo: FB/SungEel HiTech Hungary

Nagy discussed battery recycling, the situation of the EV battery industry and the green transition with Soo Chul Park, the managing director of SungEel HiTech Europe and SungEel HiTech Hungary, and Dong Wook Chu, the director of SungEel Hitech Hungary. They were joined by Geun Ki Mun, a deputy director at South Korea’s Ministry of Economy and Finance.

SungEel HiTech has nine plants around the world. It has two bases in Hungary where it employs over 200 people.

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