Seoul, November 27 (MTI) – South Korean companies could give a further boost to the development of Hungary’s car industry, Foreign Minister Peter Szijjarto said after talks with his counterpart Yun Byung-se in Seoul on Thursday.
The two countries have a shared interest in developing economic cooperation, with the South Korean government promoting investments by medium-sized companies abroad, the minister told Hungarian reporters.
Hungary has vested interest in such projects as South Korean companies apply high technology in both the car industry and electronics, he said, adding that talks are under way on several projects.
As the Republic of Korea seeks to intensify cooperation with the Visegrad Four grouping of the Czech Republic, Hungary, Poland and Slovakia, the plan to hold a summit of the five countries’ heads of state or government was also discussed, Szijjarto said.
The two sides agreed on the need to resolve the Ukrainian conflict through negotiations as soon as possible. South Korea’s interest lies in economic cooperation with Russia “returning to normal” while Hungary has an interest in having peace in its neighbourhood, the minister said, reiterating Hungary’s advocacy for Ukraine’s territorial integrity and sovereignty.
The two ministers met on the sidelines of the Asia-Europe Meeting in Milan a few weeks ago. Szijjarto there said that trade between Hungary and South Korea was rapidly growing. Hungarian exports amounted to almost 300 million dollars last year, and went up by 23 percent in the first seven months this year, an increase triggered mainly by a growth in car industry exports.