Lokesh courts Korean firms for investments across key sectors in AP

Vijayawada: Andhra Pradesh IT, electronics and education minister Nara Lokesh on Monday held a series of meetings with South Korean companies and startup founders, seeking investments in electronics, semiconductors, power equipment, footwear manufacturing and innovation ecosystems.During the second day of his South Korea tour, Lokesh invited companies to expand operations in Andhra Pradesh, set up manufacturing and R&D facilities, and partner with the state in advanced technology and startup initiatives. South Korea govt invited Lokesh for bilateral talks to strengthen business relations and cooperation in various sectors.Lokesh met Shoealls chairman and CEO Lee Cheong-geun and urged the company to expedite work on its proposed ₹300-crore footwear manufacturing unit in Andhra Pradesh.

He also invited the company to establish an R&D and innovation centre in the state and develop AP as its retail and distribution hub. The company said it would examine the proposals.In talks with SOLUM Group global operations officer Jeagab Ha, Lokesh sought early completion of the company’s ₹338-crore EV charger power modules and automotive electronics facility at Sri City. He also proposed expansion into display-related products, citing the presence of display manufacturing activity in the Tirupati region. SOLUM representatives said efforts would be made to complete the project at the earliest.

Lokesh met Soft-Epi CEO Sung Min Hwang and senior managing director In-sung Cho and invited the company to establish a micro-LED display materials hub in Andhra Pradesh. He also proposed an advanced epitaxy centre and a training academy in partnership with IIT Tirupati and the state govt.Addressing a roundtable with Korean technology startups organised by the Seoul Business Agency, Lokesh said Andhra Pradesh aims to create 20,000 startups and one lakh jobs over the next five years through the Ratan Tata Innovation Hub (RTIH).

He invited Korean startups to participate in RTIH programmes and proposed an India-Korea startup corridor, including a Korea desk, co-incubation programmes and market access support.

He also highlighted the state’s plans to position Andhra Pradesh as India’s AI capital and develop a quantum and AI ecosystem in Amaravati.During a meeting with Hyosung Heavy Industries Power Systems President Yokota Takeshi, Lokesh outlined Andhra Pradesh’s transmission and clean energy expansion plans and invited the company to establish a switchgear and power equipment manufacturing or assembly facility near Tirupati or Sri City.Lokesh met Seoul Semiconductor vice-president Taehyung Lee and invited the company to set up a display fabrication facility in Andhra Pradesh, preferably in the Sri City region. He highlighted the presence of Korean companies already operating in the state and recent developments in India’s semiconductor sector. The company said it is evaluating investment opportunities in India and would consider the state’s proposal.