Andhra Pradesh

Naidu begins 3-day S. Korea visit

On a mission : Kia Motors Vice-President Hyoung Keun-Lee shows an electric vehicle to Chief Minister N. Chandrababu Naidu.  

Chief Minister N. Chandrababu Naidu and his team began their three-day visit to South Korea on Monday on a positive note by entering into a letter of intent (LoI) with a group of 37 companies.

The Andhra Pradesh Economic Development Board (EDB) entered into the LoI and the group has evinced interest in investing ₹ 3,000 crore in A.P. and providing employment to 7,171 people. The ancillary units of Kia Motors have confirmed their total investment to be ₹4,995.2 crore.

Mr. Naidu appealed to the Korean companies to draw inspiration from Kia Motors and come forward to invest in the State.

The government was providing many facilities and creating the ecosystem for growth of industry.

When some representatives raised doubts over the investment climate, Mr. Naidu said, “I assure you again that any problems faced by you will be solved immediately. Anantapur, which you have selected, is close to Bangalore airport and Krishnapatnam port. Infrastructure is in place.

There are no law and order problems. Neither there is labour unrest.”

Solar power plant

Jusung Engineering CEO Hwang Chul-joo told the Chief Minister that it had plans to establish a solar power plant with a capacity of 100 giga watts in India. They were also developing the next-generation LED bulbs, called OLED. Mr. Naidu invited the company to set up a research & development unit in A.P.

Y. Kim, adjunct professor to India Studies at Hankook University of Foreign Studies, and MD of BTN Co. Ltd., presented a proposal for the development of the first local-friendly Sustainable Integrated Smart City in India in Anantapur.


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Printable version | Nov 30, 2021 4:49:51 AM | https://www.thehindu.com/news/national/andhra-pradesh/naidu-begins-3-day-s-korea-visit/article21262456.ece

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