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Visiting South Korean president looks to boost business with Visegrad 4

| 2021-11-02 < 1 min read

Visiting South Korean president looks to boost business with Visegrad 4

Reading Time: < 1 minute

South Korea’s president, Moon Jae-in, begins a 9-day tour of Europe this week, ending with a meeting of the regional “Visegrad 4” group, where boosting business cooperation in areas like batteries and electric vehicles will be on the agenda.

Today, president Moon is scheduled to meet with his Hungarian counterpart, Janos Ader. That visit comes in the wake of last month’s announcement by South Korea’s LG Chem Ltd. on its plans to build a new battery separator plant in Hungary, complementing an existing facility in Poland.

Considering South Korea’s dominance in the global battery supply chain, the South Korean president’s meeting with representatives of the V4 Group – whose members are Czechia, Hungary, Poland and Slovakia – is expected to deepen economic ties between his country and the region, with V4 countries likely welcoming potential foreign direct investment from Korea into the sector.

Source: Foreignbrief.com

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