South Korean Consul General of Southern India Kim Hyung Tae has said that many companies, a majority of them from the automobile sector, are keen on investing about ₹4,000 crore in Andhra Pradesh with the potential to generate jobs for 7,000 people.
During an interaction with Chief Minister N. Chandrababu Naidu at the Secretariat in Velagapudi on Saturday, Mr. Kim said Andhra Pradesh offered an environment that was conducive for doing business and that its high growth rate was commendable. According to an official release, Mr. Kim stated that South Korea was also for fostering cultural relations with Andhra Pradesh, and export of chilli, tobacco, and textiles would be given incentives.
Mr. Naidu said the government took steps for speedy development of the Korean City in Anantapur district, where Kia Motors was in advanced stage of setting up its car manufacturing facility. He promised to sort out any issues with which the Korean companies might be bogged down.
South Korean Deputy Consul General De Su Chang, Principal Secretary to the Chief Minister G. Sai Prasad, and AP Economic Development Board CEO J. Krishna Kishore were present.
