I also want to start with Hungarian localization and already checked a bit.
There is a folder named 'Localization' in the game folder, now there is only English. There is a file which contains all the texts I suppose, but it's not very good readable by default.
There must be a tool which can get out the texts in better format and after translation put it back, but I didn't checked yet, I want to wait till the full release is out.
That tool will likely be part of the toolkit, at least I'd expect so as modders might want to provide translations for their mods...
