Hungary can learn from Korea's state-led economic growth model, expert says
Korea's state-led economic development model offers important lessons for Hungary, which has relied heavily on foreign direct investment (FDI) to drive economic growth, according to a Hungarian expert. Zoltan Pogatsa, a professor at the University of Sopron in Hungary, made the remarks during a seminar titled Hungary's Economic Strategy: Lessons from Korea's Development Experience, held at…
Hungary can benefit from Korea's state-led economic growth model, according to a Hungarian expert. Zoltan Pogatsa, a professor at the University of Sopron, shared his insights during a seminar in Seoul on Thursday. Pogatsa pointed out that Hungary has primarily relied on foreign direct investment (FDI) for economic growth since gaining independence from Soviet influence, whereas Korea adopted a state-led development approach.
This involved taking on significant debt to support domestic industries. Pogatsa argued that Hungary's FDI strategy has limited its capacity to create globally competitive domestic brands and maintain control over its supply chains. In contrast, Korea's strategic government intervention helped the country develop internationally recognized brands like Samsung and Hyundai.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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