President Moon Jae-in on Nov. 3 holds a joint news conference with Hungarian President Janos Ader at the presidential palace in Budapest, Hungary.

By Yoon Sojung
Photos = Yonhap News

Korea and Hungary have agreed to upgrade bilateral relations to the level of a "strategic partnership."

President Moon Jae-in and Hungarian President Janos Ader on Nov. 3 agreed to boost bilateral ties after their summit at the presidential palace in the Hungarian capital of Budapest.

At a joint news conference after their talks, President Moon said, "We agreed to further strengthen bilateral economic cooperation," adding, "We will work together to expand it further in such promising future industries as electric vehicles and batteries."

"We agreed to push for closer cooperation in science and technology," he added. "Our two countries will further expand cooperation not only in areas related to the Fourth Industrial Revolution but also in climate change responses, digital technology and healthcare."

"Regarding the climate and environmental challenges, we agreed to closely cooperate in order to better contribute to international efforts."

Both leaders discussed the results of the latest United Nations Climate Change Conference of the Parties (COP26) and measures to achieve carbon neutrality by 2050.

President Moon said, "We exchanged our opinions about the outcome of COP26 and how to achieve 2050 Carbon Neutrality as well as concurred on the fact that a sustainable growth necessitates novel efforts built upon digital and green transitions."

President Ader said, "The Republic of Korea has achieved remarkable economic changes and development over the last six decades," adding, "To realize carbon neutrality by 2050, we can make joint efforts for a lot of technological innovation."

On the Korean New Deal, President Moon called it similar to the European Union's vision of digital transition and green deal, saying he hopes Seoul and Budapest can work together to expedite economic recovery in both countries.

President Ader also asked President Moon if Korea can share its energy storage technology after development with Hungary first. The Hungarian leader also introduced his government's "energy mix" policy using nuclear and renewable energies including solar power.

On the occasion of the summit, both countries signed six memorandums of understanding (MOU), including one on joint responses to the Fourth Industrial Revolution and another on a letter of intent for youth exchanges and cooperation in family policy. 

President Moon Jae-in on Nov. 3 speaks at the Korea-V4 Group Business Forum at Budapest Marriott Hotel in the Hungarian capital.

Later that day, President Moon attended the V4-Korea Business Forum at Budapest Marriott Hotel. V4 stands for the Visegrad Group, a regional cooperation body comprising the Czech Republic, Hungary, Poland and Slovakia. 

President Moon said, "The results of cooperation between Korea and the V4 Group are amazing," adding, "More than 600 Korean companies have entered the V4 Group market in various sectors, ranging from electronics, automotive and parts to chemicals and metal." 

"With cumulative investment surpassing USD 10 billion, V4 countries have become Korea's largest investment destination in the EU."

"The Visegrad Group is achieving the most dynamic growth in Europe based on its excellent human resources and a geographical advantage connecting Eastern and Western Europe," President Moon added.

"Through its strength in cutting-edge manufacturing, Korea hopes for joint growth with the Visegrad Group that extends beyond the European market to the world.”

arete@korea.kr