Korean delegation led by Korean Consul General visits integrated business township Sri City in AP
The Consul General extols Business City as a promising place to invest due to its top-notch infrastructure and business-friendly ambiance
TIRUPATI (Andhra Pradesh): Chang-nyun Kim, Consul General of the Republic of Korea in Chennai visited the integrated business township Sri City on Wednesday, along with Minhyeong Lee, Director, Korea Trade-Investment Promotion Agency (KOTRA), Chennai, a non-profit organization working within the aegis of Embassy of the Republic of Korea, and Joon Sik Hwang, Researcher, Korean Consulate.
Dr. Ravindra Sannareddy, the founder and managing director of Sri City, gave a brief overview of the city’s key attributes while highlighting its infrastructure, distinctive features, and rapid growth rate. He highlighted the many investment opportunities in various industries, the economic advantages offered by the state and central governments, and the particular benefit of setting up industrial facilities in Sri City.
Thanking the Consul General and the team for visiting Sri City, he said, “The Republic of Korea stands as the 13th largest foreign direct investment (FDI) contributor to India, with investments totaling approximately $5.4 billion. We are truly grateful for your keen interest in gaining deeper insights into Sri City. We are already hosting 3 Korean cos., and given the positive atmosphere of this study, we are optimistic that it will open doors to increased South Korean industrial investments in the future.”
Fascinated by the world-class infrastructure and business-friendly ambiance, Mr. Kim expressed happiness over the presence of Korean companies in Sri City and said, “It has been a pleasure of visiting Sri City and observing the impressive development. Sri City’s concept is very unique and such parks are rare in India.” He mentioned that in view of its several advantages, some of the companies would prefer Sri City for their investment in India, the Consul General said.
The purpose of the visit was to witness the existing infrastructure at the mega industrial park and assess its business potential. During the interaction, Mr. Kim and other officials evinced keen interest and inquired about different aspects of Sri City. Following the briefing session, they visited the production units of Hyundai Engineering Plastics (HDC), SK Pucore, and the LG Polymers unit which is in the commissioning phase, and witnessed the works in progress. The visitors had a luncheon discussion with the CEOs/CXOs of Korean companies.
