South Korea’s leading food producer, CJ Foods, is making a significant investment in Hungary by building its first Central European factory. The new facility, located in Dunavarsány, will create 200 jobs and strengthen Hungary's position as a key player in the global food industry. The announcement was made by Péter Szijjártó, Hungary’s Minister of Foreign Affairs and Trade, in Budapest.
Greenfield Investment in Ready-to-Eat Food Production
The HUF 31 billion project, supported by HUF 5.3 billion in state funding, will include a cutting-edge production plant and warehouse for ready-to-eat food. According to Minister Szijjártó, the majority of products manufactured at the Dunavarsány facility will be destined for Western European markets, with raw materials primarily sourced from Hungarian farmers and suppliers.
“This development not only strengthens Hungary's ties with South Korea but also supports local agriculture and creates job opportunities,” said the minister.
CJ Foods: A Global Leader in Food Production
With 60 factories worldwide, CJ Foods is South Korea’s largest food company and a global leader in the industry. The decision to establish a facility in Hungary reflects fierce competition among countries vying for foreign investments. Hungary's favorable business environment and strategic location helped secure this important deal.
Hungary’s Role in the Shift to the East
Minister Szijjártó emphasized Hungary’s adaptability to shifting global economic trends, noting that the economic center of gravity is moving from West to East. “Asian players are setting the pace in many sectors, and Hungary has positioned itself as a key partner in this new global economic era,” he stated.
Thanks to strategic decisions, Hungary has become a magnet for investments, particularly from Asian companies. South Korea is now Hungary’s fourth-largest investor, with over 300 companies operating in the country, contributing nearly €10 billion in total investments.
Importance of Food Security in a Changing World
Highlighting lessons learned from global crises like the COVID-19 pandemic and the war in Ukraine, Szijjártó stressed the importance of self-sufficiency in food production. The Dunavarsány facility aligns with Hungary’s national security goals by enhancing domestic food manufacturing capabilities and reducing dependency on imports.
Economic and Strategic Significance
This landmark investment underscores Hungary’s growing role in the global economy and its ability to attract major international players. The CJ Foods factory not only bolsters local job creation and agricultural partnerships but also establishes Hungary as a gateway to European markets for South Korean businesses.
By prioritizing innovation, sustainability, and international cooperation, Hungary continues to solidify its position as a regional leader in both economic growth and food security.
