Samsung Subsidiary Harman Invests 230 Billion Won in R&D in Hungary, Accelerates Push into European Automotive Electronics Market
Harman International, the audio-focused subsidiary of Samsung Electronics (hereafter Harman), is making an investment worth 230 billion won in Hungary.
According to the Hungarian Investment Promotion Agency (HIPA) on March 27, Harman will invest a total of 131.18 million euros (approximately 230 billion won) to carry out three major projects aimed at strengthening its research and development (R&D) and production capabilities in Hungary.
First, the Budapest R&D Center will develop software and hardware to support autonomous driving features, while experimental development related to autonomous driving systems and vehicle information management solutions for Mercedes-Benz will be conducted in Szekesfehervar.
Finally, Harman plans to introduce digitalization and automation technologies at its manufacturing sites in Szekesfehervar and Pecs to enhance production capacity in both regions, as well as to install solar power facilities.
Harman is a global leader in automotive audio and infotainment systems, and since being acquired by Samsung Electronics in 2017, it has become a core pillar of Samsung's automotive electronics business. With over 30 years of presence in Hungary, more than 4,000 of Harman’s approximately 30,000 employees are currently based in Hungary.
HIPA expects that Harman's latest investment will create 25 high value-added jobs in the field of research and development.
Hot Picks Today
"Two Spend 500,000 Won in a Flash, Yet Wait Two Hours?" ... 'Dreamland' Shunned by Kids and Foreign Tourists
- The Era of Getting 200 Million Won After 30 Years Is Over... A Japanese Bank's "Perpetual Department Head" Who Just Clocked In Cries Out
- Spain Hit by Its Worst Tragedy... Lee Kangin, Moreno and Real Madrid Join Soccer World in Mourning
- They Said, “Make It Your Home for Life” - Then Suddenly Kicked 200 Passengers Off... What Happened to the Around-the-World Cruise?
- "130 Rice Bowls Sold Out in a Day"... 'Unfiltered Face' Adds 8 Million Won to Night Market Sales: China's Bungeunwoo
Lee Jae-yong, Chairman of Samsung Electronics, has recently been strengthening efforts to expand the company’s automotive electronics business by continuing discussions on collaboration with executives from global automakers. After his recent business trip to Europe, Chairman Lee, accompanied by Choi Joo-sun, President of Samsung SDI, reportedly met with a wide range of major automakers in Europe, including Mercedes-Benz.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
