The Government concluded a Strategic Partnership Agreement with Samsung

A Strategic Partnership Agreement was signed today by Minister for National Economy Mihály Varga and President of Samsung Electronics Hungary Ltd Lee Kyu-Jin at the company’s Jászfényszaru headquarters. After the signing ceremony, the participants planted a tree as a symbol for the foundation-stone of the new Samsung production facility.

Speaking before the signing ceremony, Mihály Varga said that the new, 22 thousand square-metre production hall – valued at some 30 million US dollars – will create one hundred new jobs. “The Government’s cooperation with Samsung Electronics Hungary has been a good example for the successful harmonization of an adequate Government policy and the goals of economic stakeholders,” the Minister said. As he stressed, one key economic policy objective of the Government is to boost employment and investment, and improve competitiveness.

The investment programme of Samsung has been sending a positive message about Hungary and the Hungarian economic environment, Mihály Varga pointed out.

South Korea’s Ambassador to Hungary Nam Gvan Pjo welcomed the Partnership Agreement and added that as soon as diplomatic relations between the two countries had been restored, Samsung launched investment projects in Hungary.

President and CEO of Samsung Li Kju Dzsin emphasised that the television factory, to which a new unit was added today, will celebrate its 24th anniversary and a history which has become a success story of Hungarian electronics and television production: the company employs almost 3000 people and its investments total some 160 billion forints. “This facility is one of Europe’s largest television factories and one of the most modern production sites in the world,” he stressed.

President of Samsung Electronics Hungary István Facskó underlined the importance of corporate social responsibility. In November, the Samsung Smart School is scheduled to open in Jászfényszaru, which will provide up-to-date education for primary school pupils and unemployed people aged 18-25 years, whose labour market prospects will be thus improved.

Source: Ministry for National Economy