South Korean construction materials and chemicals group Dongwha has announced that it is to open its first European units in Hungary, according to the country's minister for foreign affairs and trade Peter Szijjártó.
Dongwha Hungary
With an investment of 11 billion forints (€31 million), Dongwha is constructing two facilities in the industrial park near the town of Sóskút. One facility will produce electrolyte and the other will recycle the solvent NMP.
Dongwha Electrolyte manufactures electrolyte-based lithium-ion batteries – its products are primarily used in portable electronic devices. Outside South Korea, where an R&D centre has also been established, the company has units in China and Malaysia, with a total of 160 employees, according to recent data.
The two facilities will create 90 jobs in the region, according to Szijjártó.
The electrolyte producing plant, of 5,400 square metres, will supply Hungary and the region's battery manufacturers with electrolyte, whereas the NMP recycling unit, occupying an area of 7,200 square metres, will contribute to sustainability in battery manufacturing.
Dongwha is looking to establish itself in the European eMobility market and its Hungarian investments are the first such step.
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