The parties also agreed to expand forward-looking cooperation in the fields of economics, science, technology and culture, Yonhap news agency noted this Wednesday.
Likewise, both leaders discussed in depth a wide range of issues to strengthen friendly and cooperative relations between the two nations.
Trade between South Korea and Hungary stood at $ 3.6 billion dollars in 2020, compared to $ 2.9 a year ago, according to data released by Seoul.
Exports from the Asian nation to the European country increased by 18.1 percent year-on-year, while imports from Hungary grew by 36.6 percent.
During the meeting, both countries also agreed to make joint efforts to face global crises, like the Covid-19 pandemic and climate change, Yonhap specified.