Bumchun Precision to build Hungary battery terminal plant

Bumchun Precision is to construct its first plant outside South Korea in Hungary with an investment of EUR 40.8m (US $ 45.3m). The facility, which will be built in Salgótarján, will manufacture aluminium battery terminals for electric vehicles.

Minister of Foreign Affairs and Trade, Péter Szijjártó says the Hungarian government is providing EUR 8.13m in funding towards the investment as the plant will be creating 200 new jobs.

«South Korea is the world's second largest exporter with relation to e-mobility and Korean enterprises are the market leaders in all of the related fields, and for this reason the marked development of economic relations between the two countries is also expected to mean success for Hungary» Szijjártó said.