Dongwha Electrolyte Hungary Kft. will establish a plant for about HUF 11 billion, creating 90 new jobs, said Péter Szijjártó, Minister of Foreign Affairs and Trade, at a press conference announcing the investment in Budapest.
The minister said that the investments of Samsung SDI, SK Innovation and other large Korean battery manufacturers in Hungary have created a supplier demand that also justified Dongwha’s investment in Hungary.
There was a lot of competition for the investment, given that the Dongwha Group has factories on four continents.
This time, however, the company decided to bring a factory to Europe, so the group’s first European factory will be established in Sóskút, Hungary, with a production area of about 13,000 square meters. The plant will produce electrolytes for batteries, and solvents and chemicals for battery production will also be recycled there, he added.