The Hungarian National Trading House, a government-owned export promotion agency, opened a partner office in Seoul on July 3, paving the way for increased commerce between Hungary and Korea.

The office at E&C Dream Tower, suite 1401, 146 Seonyu-ro, Seoul, is part of a network of Hungarian trade representations in 60 countries. It is jointly operated by Hungary’s International Development and Fund Coordination Agency and SM Global Korea, a firm specializing in packaging and logistics.

“The cooperative venture will provide background support for Hungarian exporters, mainly small and medium-sized enterprises that wish to enter the Korean market or expand their activities here,” according to SM Global Korea.

Exports from the Central European economy to Korea topped $390 million last year, while Korean exports to Hungary reached $450 million. The office will help Hungarian enterprises find their business partners, assess local demand and explore untapped opportunities here, the Korean company added.

“Hungary has a number of industries whose products are likely to be attractive and competitive in the Korean market,” according to SM Global Korea Chairman Sung Min. He noted that several Hungarian goods that are healthy and produced free from genetically modified processing, including wine, generated interest at the Seoul Food and Hotel Expo in May.

Zsanett Olah, chief executive officer of the Hungarian National Trading House, said, “As an export promotion agency with governmental support, we have a lot of instruments at our disposal to strengthen business relations between Hungarian and Korean companies.”

She added that the organization will host business-to-business meetings, invite business delegations and provide opportunities for Hungarian firms to participate in fairs and events in Korea, Asia’s fourth-largest economy.

For more information, visit www.tradehouse.hu or contact SM Global Korea trade coordinator Hong Seung-wan at 010-8888-9681 or shong@smglobalkorea.com

By Joel Lee (joel@heraldcorp.com)