KIND Signs MOU for Joint Development of Industrial Complex and Logistics Facilities in Hungary

Korea Overseas Infrastructure & Urban Development Corporation (KIND) announced on the 2nd that it has signed a Memorandum of Understanding (MOU) with the National Industrial Park Management and Development Corporation (NIPUF), a state-owned enterprise under the Hungarian Ministry of Foreign Affairs and Trade, for the joint development of industrial parks and logistics facilities in Hungary.

Won Byung-cheol, Head of Business Development at Korea Overseas Infrastructure & Urban Development Corporation (KIND) (right), and Armand Albrecht, President of the National Industrial Park Management and Development Corporation of Hungary (NIPUF), are posing for a commemorative photo after signing a Memorandum of Understanding (MOU) for joint development of industrial parks and logistics facilities in Hungary on the 1st. / Photo by KIND

The agreement was signed on the 1st during the 'Korea-Hungary Forum 2024' held at Ludovika University of Public Service in Budapest, Hungary. Key figures attending the signing ceremony included Won Byung-chul, Head of Business Development at KIND, Armand Albrecht, President of NIPUF, Hong Kyu-deok, Ambassador of the Republic of Korea to Hungary, and Gabor Czuber, Deputy Minister of the Hungarian Ministry of Culture and Innovation.

NIPUF was established in 2015 to promote national economic development through the development and operation of industrial parks and logistics facilities within Hungary. NIPUF has successfully developed and operated various industrial parks and logistics facilities, including the Tatab?nya Industrial Park and Kecskem?t Industrial Park. Through these efforts, it has strengthened Hungary's industrial infrastructure, promoted foreign investment attraction, and contributed to regional economic revitalization.

Through this agreement, KIND plans to acquire and review information on Hungary’s industrial park and logistics facility projects. Subsequently, it intends to recruit Korean companies interested in these projects and consider various support measures such as feasibility study assistance, joint project development, financial advisory, and investment until the projects are realized.

Won Byung-chul, Head of Business Development at KIND, stated, "NIPUF holds development rights to land spanning 900 hectares in Hungary, so we expect a synergistic effect in promoting urban development projects through this MOU signing."