Lokesh Invites South Korean Firms to Set Up Units in AP
Lokesh invited him to establish a manufacturing or assembly facility for switchgear and other electrical equipment near Sri City.
Vijayawada:Education Minister Nara Lokesh has said the AP government aimed to facilitate the setting up of 20,000 startups and create one lakh jobs with the slogan of ‘One Family, One Entrepreneur’ through the Ratan Tata Innovation Hub in five years.
Lokesh was taking part in a round table meeting with Korean startup founders held under the aegis of Seoul Business Agency in Seoul in South Korea on Monday.
Lokesh invited Korean startups to participate in RTIH’s incubation programmes and even proposed an India-Korea Startup Corridor, including a dedicated Korea Desk, soft-landing facilities and joint incubation programmes.
He said that AP aimed to become India’s AI capital, with Google AI Hub, major data centre investments, and India’s first Quantum and AI University that were coming up in Amaravati. He also invited Korean Deep-Tech startups to collaborate in AI, quantum computing, advanced manufacturing, logistics, fintech and aquaculture technologies.
Lokesh called on Lee Cheongsam-genuine, chairman and CEO of South Korea based smart healthcare footwear company called Shoeals in Seoul. He urged the firm to expedite its work to set up a `300 crore footwear manufacturing unit in AP with job potential for 3,000 persons.
The AP minister met Jeagab Ha, global operations officer of SOLUM Group, and thanked the firm for investing `338 crore in an EV charger power modules and automotive electronics manufacturing unit at Sri city. He urged it to. complete the construction and commence production at the earliest.
Lokesh called on Sung Mi Hwang, CEO of Soft-EPI and other senior executives. He invited the firm to partner with Indian firms to establish a Micro-LED Display Material Hub in AP for display manufacturers. He proposed setting up of an advanced Epitaxy Centre in collaboration with IIT, Tirupati and a Soft-EPI Academy to train 500 technicians annually in GaN epitaxy, MOCVD and Micro-LED technologies.
The education minister met Yokota Takeshi, president (Power Systems PU) of Hyosung Heavy Industries. He mentioned AP's clean energy and power transmission expansion plans, including the 7,248 mw Kovvada nuclear power project, which would require a large number of transformers, GIS systems and STATCOM equipment.
Lokesh invited him to establish a manufacturing or assembly facility for switchgear and other electrical equipment near Sri City.
The minister called on Taehyung Lee, vice president of Seoul Semiconductor and told him about the presence of 40 Korean companies in AP and invited the firm to establish a display fabrication facility at Sri City.
He noted that an India Semiconductor Mission-approved project had already partnered with a Korean firm. The firm said that it was considering direct investment or a joint venture in India and assured to evaluate AP’ proposal.
