In February 1989, Hungary and South Korea agreed to establish full diplomatic relations. Hungary thus became the first communist country to recognize South Korea. South Korea was one of the most developed countries in Asia, and the Hungarians sought South Korea's assistance in developing their economy. In addition, Central Committee secretary Szuros argued that economic ties to South Korea would facilitate the development of ties with other countries of East Asia and the Pacific basin and the increase of foreign economic assistance to develop Hungary's economy.

Data as of September 1989