The Korea Times
Korean battery firms running manufacturing facilities in Hungary are expected to ease concerns about their businesses despite the European country’s first political turnover in 16 years, as incoming Prime Minister Peter Magyar and environmentalists have signaled their intent to improve relations with the industry they once criticized. Cautious optimism is also growing that the winning Tisza party’s pro-European Union stance will help revitalize Hungary’s economy and increase local demand for batteries. On April 13, a day after his party won the parliamentary election, Magyar told reporters that his government “warmly welcomes investors,” referring to Chinese battery investment projects in Hungary. “We want to position Hungarian companies as partners of BYD, CATL and other major investors, and I believe we will be able to cooperate,” he said. During his election campaign, Magyar expressed a hostile stance toward Asian battery firms, repeatedly turning the industry into a political issue by raising environmental and labor concerns. He also said his administration would review
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