It is not German but South Korean companies that are investing the most in the Hungarian economy, which has emerged as a winner in the investment competition, said Hungarian Foreign Minister Peter Szijjarto. "The Hungarian economy is successfully transforming its dimensions, making Hungary one of the winners of the new world economic era," the Hungarian minister said.

„Thanks to the continuously high quality of Hungarian workforce, the lowest taxes in Europe and the new subsidy system, most investments of all time have come to Hungary this year,” the minister emphasized.

He said that on the basis of the data at the end of November, a positive investment decision of 1,540 billion forints (4.6 billion euros) was made in respect of Hungary, thus the full-year result for last year was already broken in November.

In new jobs created through the investment promotion system, the average gross monthly salary was 420 thousand forints (1,269 euros) last year, and 457 thousand forints (1,381 euros) for the first 11 months of this year. Peter Szijjarto said that Hungary had become a centre of electric car industry, after major Korean companies dictating the pace of global automotive industry transformation are relocating their new factories to Hungary. He recalled that Hungary is to be home to the world s largest electric battery factory and its supplier hinterland, which clearly predicts Hungary s success in the new era of the world s automotive industry.

For the first time in five years in the history of Hungarian economy, it has not been Germany but South Korea that ranked first in terms of investments. As a result of this year s investments, South Korean companies make up the largest investment community, so in 2019, South Korea has made the largest amount of investments in Hungary, which clearly shows the success of the Eastern opening, the foreign minister pointed out.