AP CM Naidu to visit South Korea

     Written by : SMTV24x7 | Sat, Dec 02, 2017, 12:58 PM

AP CM Naidu to visit South Korea

Amaravati, Dec 01: The Andhra Pradesh Chief Minister N Chandrababu Naidu is going to visit South Korea on a three-day tour.

Dr. Parakala Prabhakar, Advisor to the government of Andhra Pradesh, addressed the media at a press conference to brief the media about the Chief Minister's forthcoming trip to South Korea.

The CM led delegation will visit South Korea between December 4-6, 2017, said Dr. Parakala Prabhakar.

Dr. Prabhakar established the purpose of the visit as an effort to garner increased investment interest to Andhra Pradesh.

He said that the key elements of the trip are two MoU signings with Kia Motors ancillaries, visit to KIA Motors headquarters, business seminar in partnership with Krishnapatnam Port and Kia Motors, two major roadshows, visits to Pusan Newport Company (Busan), Nok-san National Industrial Complex (Busan) and Myeongji Free Economic Zone.

Kia Motors will be investing almost $2 billion (one of the state's largest FDI in recent years) to set up an ultra-mega integrated automobile project in Anantapur, said Dr. Prabhakar.

The state has already attracted a cumulative investment of Rs. 24,754 crore in the automobile sector, from leading companies of the sector.

On December 4, an MoU will be forged between Andhra Pradesh Economic Development Board and Assetz group for the development of a world class "SMART industrial City" in Anantapur which includes: Industrial park, logistics park and warehousing, commercial space, housing (affordable as well as luxury), golf course, Legoland and wellness centre.

The cluster of Korean companies will be spread across 850 acres, and generate employment for 30,000 people in Anantapur.

Other key bilateral meetings planned are with Lotte Corp, Kokam Co. Ltd., OCI Company Ltd., Youngone and Korea Automobile Manufacturers Association.