freelogoOur objective is to provide English speaking readers interested in Hungary with a well balanced view of political activities in Hungary by featuring contents from various printed and online sources together with our own commentaries. We are convinced that Hungary is built on all sorts of different ideas, thoughts and opinions and, despite of the new Media Law, our aim is to provide an alternative and reliable source of information – contrary to the one-sided press of the government – for those who want to hear the voice of a free Hungary.

Orbán’s son-in-law has HUF 1 billion property in industrial park where gov’t tries to attract investors

Recently, István Tiborcz, the son-in-law of Hungarian Prime Minister Viktor Orbán, has become a co-owner of a valuable property in the industrial park. It is yet not clear if the property will be used but according to the recent statements, the city of Komárom is expecting that a South Korean company will set up its factory on the land. The South Korean company would arrive to Hungary following negotiations with the Hungarian government - reports investigative journalism website Direkt36.

Tiborcz acquired a 75 percent stake in WHG Ingatlan Kft. in August this year to become the part owner of an industrial property in the northwestern Hungarian city of Komárom worth an estimated HUF 1 billion.
WHB Ingatlan's other owner is Attila Paár, the man who bought Tiborcz's stake in Elios Innovativ Energetikai Zrt. in April 2015 after it was revealed that OLAF (the European Commission's Anti-Fraud Agency) was investigating the manner in which the company won a series of public lighting tenders in 2013-2014.
In March 2015 WHB Ingatlan purchased a property in the Komárom business park previously rented by Perlos, a company that manufactured accessories for Nokia mobile devices.
Last year, the municipal authorities invested some HUF 600 million in EU funds to modernize the business park, thereby making it more attractive to potential tenants.
According to Direkt36, the government has been lobbying investors in South Korea to set up operations there, in particular Woory Industries, an electronic parts manufacturer.
In November 2014, the Hungarian government took part in a South Korean business forum in Seoul, with Orbán and economics minister Mihály Varga attending. Shortly after, it was announced that Woory Industries would invest USD 38 million setting up manufacturing operations in Komárom between 2015 and 2018 and creating 150 jobs, but this has yet to materialize.
Sources in Komárom tell Direkt36 that Woory Industries is no longer interested in setting up there. Representatives of the company could not be reached for comment.
Hungary's Ministry of Foreign Affairs and Trade informed Direkt36 that meetings with the South Korean company are still ongoing, but would not comment on their progress.

Source: Direkt36;

Last Updated on Tuesday, 29 November 2016 12:47

Breaking news



Written on 21/12/2017, 21:09 by admin
jerusalemJerusalem, the eternal capital of the state of Israel and the Jewish people, finally got the official recognition which was overdue for decades....
Written on 13/09/2017, 20:13 by admin
guest-post-eu-and-orban-two-good-friendsThe decision of the European Court of Justice, according to which Hungary should accomodate more than one thousand refugees is at the same time appaling...
Written on 06/10/2016, 19:58 by admin
guest-post-the-day-after-the-referendumThe much anticipated referendum about the resettlement of migrants in Hungary was declared invalid, however, those who voted overwhelmingly rejected the...
Written on 23/06/2016, 06:31 by admin
disintegration-or-something-else-gyurcsany-s-solutions-to-the-ills-of-western-democracies  Something has gone wrong. Quietly, but ever more noticeably, more and more people in more and more places are in revolt. In the American...
Written on 06/04/2016, 19:20 by admin
how-germany-and-its-leftist-liberal-supporters-killed-solidaritySolidarity. This is the word that is probably is the most used and misused term in European politics. Its original meaning is supposed to mean to show...
Written on 23/03/2016, 20:30 by admin
the-orban-regime-can-only-end-in-failure  Change in the Orbán regime is only possible in the event of its downfall, so ruling Fidesz either becomes successful with its current set of...
Written on 23/03/2016, 20:20 by admin
anger-or-resignation  No matter how hard Mr Orbán is trying to get rid of his old cronies, he just cannot get rid of himself. He is too old for his system. The...
Written on 14/01/2016, 20:51 by admin
europe-s-new-yearThe European continent had a very difficult year in 2015, but that may be dwarfed by 2016. The most heated issue will be, without a doubt, the migration...
Written on 09/12/2015, 14:16 by admin
the-secret-diaries-of-viktor-orban-nov-dec-2015November 14th 2015I awoke to the shocking news about the Paris attacks last night. Words cannot express my feelings of shock.It turns out that one of the...
Written on 12/11/2015, 14:31 by admin
spies-in-the-newsroom   According to a new scheme, the government might place spies in the newsrooms, to have a better view of what is being written. This all...
Joomla templates by Joomlashine