Lokesh invites Hyundai shipbuilding arm to set up marine engineering hub in Andhra

Amaravati, Jul 10 (PTI) Andhra Pradesh IT Minister Nara Lokesh on Friday met the leadership of HD Korea Shipbuilding & Offshore Engineering (HD KOSE) in Seoul and invited the company to establish a world-class shipbuilding and marine engineering facility in the state. On the sixth day of his South Korea tour, the minister showcased Andhra Pradesh's maritime strengths, including its nearly 1,000-km coastline, strategic location on India's east coast, operational and upcoming deep-water ports, world-class logistics infrastructure, competitive industrial ecosystem and investor-friendly policies. "Lokesh met Kwon Younghoon, Global Business Director, HD KOSE, and Hong Sunjoon, Team Leader, in Seoul and invited the company to explore investment opportunities in Andhra Pradesh's maritime and shipbuilding sector," an official release said. Highlighting the state's "Speed of Doing Business" philosophy, he said Andhra Pradesh has built a governance model that enables investors to establish projects quickly through fast approvals, proactive facilitation and seamless coordination across government departments. Citing the successful experience of Korean companies such as Kia Motors, its supplier ecosystem and LG Electronics, he said Andhra Pradesh has consistently demonstrated its ability to execute large industrial projects in record time. The minister also highlighted marquee investments, including the Google Data Centre, the ArcelorMittal integrated steel plant and the fighter aircraft manufacturing project, noting that they reflect the growing confidence of global companies in the state's industrial ecosystem. He added that Andhra Pradesh has attracted nearly 25 per cent of all investments coming into India. Lokesh invited HD KOSE to undertake a detailed assessment of multiple potential locations across Andhra Pradesh for establishing a world-class shipbuilding and marine engineering facility, assuring the company that officials would identify suitable sites based on its technical, logistical and commercial requirements. Further, he invited the HD KOSE leadership to visit Andhra Pradesh and explore investment opportunities in the state's shipbuilding and maritime sector. Emphasising Andhra Pradesh's world-class infrastructure, strategic coastline and proactive governance, Lokesh said the state is ready to become a trusted long-term shipbuilding partner for the company in India. Later, Lokesh participated in an interactive session organised by the CII in partnership with the Government of Andhra Pradesh in Seoul, where he highlighted state's renewed focus on industrial growth, investment facilitation, technology-led governance and job creation. He said Andhra Pradesh is positioning itself as one of India's most attractive destinations for global investors, with strong opportunities in electronics, IT, semiconductors, automobiles, EVs, renewable energy, green hydrogen, food processing, ports, logistics and advanced manufacturing. Lokesh invited Korean companies to explore Andhra Pradesh as a strategic investment destination, noting that the state offers a strong combination of proactive governance, skilled talent, industrial infrastructure, port-led connectivity and investor-friendly policies. He also emphasised the government's commitment to providing a responsive and transparent ecosystem for investors, the release said. Gourangalal Das, Ambassador of India to the Republic of Korea, highlighted the growing economic partnership between India and Korea and the importance of state-level engagement in deepening bilateral trade and investment relations. He noted that Andhra Pradesh's sectoral strengths align closely with Korea's global capabilities in manufacturing, technology, mobility and innovation. Lee Min-Kyong, Director-General for the Asian and Pacific Affairs Bureau, Ministry of Foreign Affairs, Republic of Korea, addressed the session and spoke on the importance of strengthening economic and institutional cooperation between India and Korea, the release said. Kim Tae Hyung, Commissioner, Invest KOREA, highlighted Korea's investment ecosystem and opportunities for enhanced collaboration between Korean enterprises and Indian states, including Andhra Pradesh. The CII roadshow served as an important platform to promote the forthcoming 31st CII Partnership Summit 2026 scheduled to be held on November 12 and 13 in Visakhapatnam and invite Korean industry participation. The programme was attended by more than 120 participants represented by senior government officials, Korean industry representatives, investment promotion agencies, business leaders and members of the CII Andhra Pradesh CEOs delegation, the release added. PTI MS STH KH