The Hungarian Development Bank and KDB Bank Europe Ltd. have signed a Memorandum of Understanding

The aim of the MOU is to support the development of the Hungarian economy, encourage investment and deepen international financial relations through joint financial solutions. The agreement was signed by Zsolt Kovács, President and CEO of the Hungarian Development Bank (MFB), and Kwon Yong Il, President and CEO of KDB Bank Europe Ltd.

The MOU provides an excellent framework for one of the two banks' most important recent joint achievements: in August 2025, MFB signed a five-year syndicated loan agreement worth USD 190 million with a South Korean banking consortium led by KDB Bank Europe Ltd. The purpose of the financing is to diversify the bank's resources and promote the growth of the Hungarian economy.

KDB has been an important financial partner for Korean and domestic companies operating in Hungary for many years, as well as an active player in international financial markets.

The capital inflow generated by the loan further strengthens Hungarian-Korean economic relations, which have played a key role in Hungary's economic growth in recent years. Korean companies are among the most significant investors in Hungary. According to data from HIPA (Hungarian Investment Promotion Agency), South Korea was the second largest foreign investor in Hungary in 2024, with investments worth EUR 2.6 billion.

These investments not only create jobs, but also bring advanced technological knowledge and innovation to Hungary, contributing to the modernization of the economy and strengthening its competitiveness.

This cooperation is a good example of how international financial partnerships and a stable financing background play a key role in Hungary's long-term economic development. The agreement not only strengthens financial stability, but also supports the active role of domestic companies in the global economy.

Hungarian Development Bank Ltd.

Established in 1991, Hungarian Development Bank Ltd. (MFB) – which has been operating as an investment bank since 1993 – is a specialized financial institution wholly owned by the Hungarian state. Its primary task is to provide preferential loans to domestic businesses and individuals and to support long-term economic development. MFB participates in the financing of investments and infrastructure development projects of national economic importance. As a development bank, MFB's primary goal is to provide financing to sectors with insufficient resources and to address financing gaps that cannot be addressed by market instruments.

KDB Bank Europe Ltd.

The parent bank of KDB Bank Europe Ltd., the South Korean Korea Development Bank (KDB Bank), has been managing economic development and national finances in its home country as a leading corporate finance institution since its establishment in 1954. KDB has become South Korea's largest state-owned financial institution, actively participating in the implementation of economic policy objectives. It is represented worldwide through its expanding global network, operating 12 foreign branches, 7 subsidiaries, and 6 representative offices. The main mission of KDB Bank Europe Ltd. is to increase its presence and influence in both domestic and wider European markets as the European business center of the KDB network, acting as a reliable, competitive, corporate finance-focused universal commercial bank that responds dynamically to changes in the economic environment.