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At the end of July this year, during his visit to Seoul, Hungarian Foreign Minister Péter Szijjártó spoke about the fact that hundreds of millions of euros of investment will arrive in Hungary in the coming months. Today the announcement was received that the South Korean Doosan will build its second European plant in Hungary, next to Tatabánya.
An investment of 75,000 million HUF near Tatabánya will create 200 new jobs, the government will support the investment with a non-reimbursable subsidy, the amount of which is still being negotiated between the government, the company and the European Commission. The company’s first € 100 million plant in Tatabánya was supported with € 15 million.
Doosan has a 125-year history and is one of the world’s oldest and largest suppliers to the automotive electrical industry. It manufactures copper foil for electric batteries and employs more than 40,000 people in more than 40 countries around the world. The first factory in Hungary produces 10,000 tons of copper sheets per year and with the construction of the second factory it will increase to 25,000 tons, he added.
One of the largest copper film production capacities in the continental sense, here in Hungary,
said Péter Szijjártó.
The presence of this factory further strengthens Hungary’s position in the modern period of the automotive industry, further strengthens the Hungarian automotive industry, which today accounts for 30 percent of total industrial production, and the sector operates with a share of export of more than 90 percent, he noted. The minister said that last year, Korean companies accounted for 50 percent of all investment in the country and 30 percent of all new jobs created were linked to Korean companies.
Cover Image: SeongJoon Cho / Bloomberg via Getty Images
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