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Poland wants more investment from South Korea: Fin Min

Poland sees South Korea as its major economic partner and wants to further boost bilateral ties beyond e-mobility to make a strong rebound from the fallout of the COVID-19 pandemic, Tadeusz Kościński, the Polish Finance Minister told Korean News Agency Yonhap.

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“I consider South Korea as one of the most important economic partners for Poland in Asia,” Mr Kościński said in a recent interview.

Since forging a strategic partnership in 2013, Korean firms have been investing heavily in Poland in various areas, including electric vehicle batteries, electronics, engineering, auto parts and the chemical industry.

South Korea is now the largest Asian investor in Poland, with the cumulative value of Korean foreign direct investment in the European country reaching USD 2.2 bn as of 2019, according to the data from the National Bank of Poland.

Mr Kościński said he expects “fruitful collaboration” in the e-mobility and cybersecurity sectors, as well as a number of other areas, encouraging more Korean companies to further invest in Poland.

The largest investment is LG Chem Ltd.’s EV battery plant, which started production in 2018 near the southwestern city of Wroclaw, making Poland the largest lithium-ion battery exporter in Europe.

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