The South Korean company Chokwang Paint handed over a new plant in Heves.
The automotive industry supplier invested HUF 3.8 billion (EUR 9.38 million) and the state granted subsidies amounting to 10% of the investment. The company produces special heat sink glue for electric car batteries.
Three of the world’s six largest battery manufacturers have settled in Hungary, as well as all German premium manufacturers, all of whom are focusing on electromobility as a future field.
After Germany and the USA, South Korea is now the third strongest partner in terms of foreign investment. In terms of new investments, the Asian country was the absolute leader in 2021 for the second time after 2019.