Chief Minister Revanth Reddy, along with Industries Minister D Sridhar Babu, has embarked on a tour to attract investments to Telangana. After visiting the United States, the delegation arrived in Seoul, South Korea, on Monday. Their main goal is to secure investment deals for Telangana’s growth.
On their first day in Seoul, the delegation engaged in discussions with LS Corp, a major industrial conglomerate in Korea. LS Corp was previously associated with the LG Group and Hyundai Group. The talks involved key figures like Kihak Sung, Chairman of Youngone, and Soyoung Joo, Executive Vice-Chairman of the Korea Federation of Textile Industry (KOFOTI). They discussed potential manufacturing investments in Telangana, focusing on electric cables, gas, energy, and batteries. Chief Minister Revanth expressed optimism about welcoming LS Corp as investors in Telangana soon.
Hyundai, a well-known South Korean automotive company, announced plans to set up a mega test center in Telangana through its Indian subsidiary, Hyundai Motor India Engineering Pvt Ltd (HMIE). This center will feature a test track and a modern car manufacturing facility, including electric vehicles. The establishment of this center is expected to draw other affiliates and suppliers, creating both direct and indirect job opportunities. Additionally, HMIE plans to enhance its existing engineering center in Hyderabad, boosting employment in India and the Asia Pacific region.
Chief Minister Revanth highlighted Telangana’s industry-friendly policies and advanced infrastructure as key factors attracting companies like HMIE to the state. He emphasized that these policies provide an easy and efficient system for businesses to operate in Telangana.
The Telangana delegation also showcased the mega textile park in Warangal as a prime location for investment by Korean textile companies. This presentation took place during a business roundtable organized by KOFOTI.
To ensure progress on these potential opportunities, the Chief Minister announced the formation of a task force comprising the IT and Industry Minister and other officials. This task force will work swiftly to follow up on investment opportunities and implement actions on the ground.
