Hyosung Vice Chairman Cho Hyun-sang met with Romanian Deputy Prime Minister Barna Tánczos in Seoul to explore ways to enhance the investment climate between the two countries.
The meeting was requested by the Romanian delegation, which traveled to South Korea specifically to court additional investment from Hyosung, already the largest South Korean investor in Romania with over €1 billion ($1.08 billion) committed and more than 1,000 jobs created.
Hyosung operates in Romania through its subsidiary GST Safety Textiles, which maintains a significant production facility in Sighisoara. The company holds the top global position in polyester airbag materials, specializing in one piece woven technology that enhances passenger safety by eliminating seams.
During the talks, Cho suggested that improved investment conditions, including tax benefits and incentives, could attract more South Korean companies to Romania. The discussions acknowledged how shifting U.S. trade policies affecting Canada, Mexico and Europe are prompting companies to reconsider their global investment strategies.
Romania has positioned itself as an attractive investment destination, leveraging its EU membership, skilled workforce, and favorable business environment to appeal to Asian manufacturers seeking European production bases.
