Vijayawada:Andhra Pradesh has invited South Korean companies to become long-term partners in its next phase of industrial growth, with Electronics Minister Nara Lokesh asserting that the state’s objective is to boost investments, technology and employment opportunities.
Addressing industrialists at the 31st ‘CII Partnership Summit Korea Roadshow’ in Seoul during his week-long South Korea tour, Lokesh affirmed that AP was positioning itself as South Korea’s preferred manufacturing and logistics gateway into India.
“We are set to write a new chapter in the Andhra Pradesh-Korea partnership,” he said, adding that the state government had spent the past two years reaching out to global investors through high-level visits to Davos, Singapore, Japan, Russia, the Middle East, Europe and South Korea.
Highlighting Andhra Pradesh’s investor-friendly governance, the minister said the state stressed on the ‘Speed of Doing Business’, ensuring quick project approvals, efficient decision-making and hassle-free clearances. Referring to the Korean expression “Palli Palli”, meaning “hurry, hurry”, Lokesh said the phrase also reflected the AP government’s commitment to speed and efficiency.
He said the AP-Korea partnership had produced tangible results, with more than 35 Korean companies operating in the state. Kia Motors’ investment in Anantapur, he said, marked the beginning of a successful partnership and transformed the region into one of India’s leading Korean automobile manufacturing clusters. He also highlighted LG Electronics’ decision to establish its third manufacturing plant in India at Sri City, describing it as the beginning of the partnership’s second phase.
Lokesh said AP is now working with Korean firms in sectors including semiconductors, electronics, EV components, power electronics, shipbuilding, marine equipment, artificial intelligence, clean energy, battery manufacturing, food processing and advanced manufacturing.
Recent meetings with leading Korean companies, he added, were aimed at creating a complete industrial ecosystem rather than attracting standalone investments.
The minister noted that India and South Korea have adopted a joint strategic vision covering semiconductors, AI, advanced manufacturing, shipbuilding, maritime security, critical minerals and trusted supply chains. Bilateral trade currently stands at about $27 billion, with both countries targeting $50 billion by 2030.
Andhra Pradesh, he said, intends to play a leading role in achieving that goal.
Inviting Korean companies to visit Andhra Pradesh and participate in the CII partnership summit to be held in the state this November, Lokesh said the first chapter of the AP-Korea partnership was built around automobiles, the second around electronics, and the third would be written together in semiconductors, shipbuilding, artificial intelligence, clean energy and advanced manufacturing.
Lokesh said, “Andhra Pradesh offers a $190-billion economy, exports worth nearly $21 billion annually, a 1,000-km coastline, multiple ports, industrial corridors, reliable power supply, competitive land prices and a skilled young workforce.”
He said the state’s Economic Development Board (EDB) would provide end-to-end support to investors from land identification and approvals to project implementation and expansion.
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