South Korea’s Inzi Controls to invest EUR 45.8m in Hungary

South Korea’s Inzi Controls is investing 14.8 billion forints (EUR 45.8m) in building a battery plant for electric vehicles in Komárom, in northern Hungary, the foreign minister told a press conference in Budapest on Monday.

The investment, Inzi Control’s first in Europe after plants in Asia and America, is funded with a 1.6 billion forint government grant, Péter Szijjártó said.

Thanks to investors from the Far East, Hungary has become the 17th exporter of e-car batteries, Szijjártó said.

Trade between South Korea and Hungary jumped by 45 percent last year, with nearly 500 South Korean companies employing some 6,000 people, he said.

The plant will create 122 jobs, he said.

Cho Yun Hyeong, managing director of Inzi Controls Hungary, said the company chose Hungary thanks to the substantial government support, well-trained local work force and the region’s geographical advantages.

Inzi Controls supplies parts for Audi, Volkswagen and Continental and works with Bosch as a technological partner.

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