South Korea, Hungary pledge to strengthen trade, green and digital ties

SEOUL, March 3 (Yonhap) — South Korea’s and Hungary’s top industry officials agreed on Thursday to strengthen cooperation on trade and various new industrial areas, such as green growth and transition. to digital, Seoul’s industry ministry said.

South Korean Industry Minister Moon Sung-wook and Hungarian Finance Minister Varga Mihaly reached consensus during a video conference held earlier today, according to the Ministry of Trade, Industry and Energy.

During the meeting, the two sides agreed to work closely together on their green growth and digital transformation efforts, and to conduct joint research and development on various new industry sectors to better meet emerging challenges, such as supply chain disruptions. .

The Hungarian minister promised efforts to improve his investment conditions for South Korean companies, and Moon suggested additional joint efforts to prevent the current crisis around Ukraine from affecting their business activities, the official said. ministry.

“Both sides agreed to strengthen their relationship in a wide range of sectors, including trade, finance, healthcare, infrastructure and culture as strategic partners,” the ministry said in a statement.

In November last year, the two nations decided to elevate their bilateral relationship to a strategic partnership during a summit meeting between President Moon Jae-in and his Hungarian counterpart, Janos Ader, in Budapest.

Bilateral trade rose to a record high of $4.8 billion last year, according to South Korean government data.

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