Hon’ble N.Chandrababu Naidu, Chief Minister of Andhra Pradesh, visited the Republic of Korea for the first time, from 4-6 December 2017. He was accompanied by a senior delegation including three Ministerial and business leaders from the State.
2. As India's fastest-growing large state, consistently ranked at the top of the World Bank’s Ease of Doing business index, the focus of the visit was to encourage India -Korea bilateral trade and economic relations, leveraging the new momentum generated by the significant investment by Kia Motors in the State of Andhra Pradesh. This investment of approximately $1.4 billion in two phases, to build two production lines for Kia cars, backed by expedited construction ongoing in this State's Anantapur District, is drawing in many more Korean companies, including existing suppliers to Kia, who are keen to explore the large Indian market through investment in the automotive and affiliated sectors.
3. During his visit, Chief Minister Naidu also visited Busan and addressed a business meeting of over 100 prospective Korean investors in the southern part of Korea. He also visited the Busan New Port and the Busan-Jinhae Free Economic Zone. An MOU was signed between the Make in India Center Busan and Andhra Pradesh government to work toward establishing a Korea Industrial Zone in Andhra Pradesh. Chief Minister Naidu also held discussions with Mayor Suh Byung-soo of Busan and his team on possible future partnerships between Busan and his State.
4. In Seoul, at a special investment seminar jointly hosted by the State, Kia Motors, and the Embassy of India on 6 December with over 200 guests in attendance, Chief Minister Naidu invited Korean companies to make Andhra Pradesh their second home. Displaying his now – celebrated model of real time governance to showcase his transparent, speedy and efficient Government, CM Naidu pledged to extend every possible assistance to Korean businesses, including by offering support for the building of a Korean township near the Kia Motors facility at Krishnapattnam port.
5. Kia Motors President and CEO Park Hanwoo described Kia’s positive experience in India and gave an update of the progress of Kia’s India plant. Short presentations were also given by senior representatives of Krishnapatnam Port, Sri City and GMR Group. Business to business meetings followed through the evening.
6. During his visit, Chief Minister Naidu held over 15 one to one meetings with business leaders in Korea. He also invited Korean businesses to attend his State's Partnership Summit to be held in February 2018 at Andhra Pradesh. His consistent message emphasised the fact that Korea is ideally suited to be a priority partner for his State, just as Andhra Pradesh and India can be the next engine of growth for Korea.
6 December 2017
Seoul
