Lokesh opens APEX-Korea cell to attract investments

Vijayawada: Andhra Pradesh expanded its investment outreach in South Korea with the launch of APEX-Korea (Andhra Pradesh External Engagement-Korea), an investor facilitation and outreach cell, in Busan on Tuesday.Inaugurating the centre, Andhra Pradesh IT minister Nara Lokesh said APEX-Korea, established under the Andhra Pradesh Economic Development Board (APEDB), will act as a bridge between Korean companies interested in investing in Andhra Pradesh and the state govt. The facility will also provide post-investment support to Korean companies already operating in the state.Senior officials, including IT and Electronics secretary Katamneni Bhaskar, APEDB CEO Sagili Shanmohan, Andhra Pradesh Maritime Board CEO Praveen Aditya and Industries Commissioner Shubham Bansal, attended the event along with Korean industrialists.As part of the fourth day of his South Korea tour, Lokesh held a series of meetings with business leaders and industry associations, pitching Andhra Pradesh as a destination for investments in finance, manufacturing, footwear, shipbuilding and maritime equipment.During a meeting with senior executives of BNK Financial Group, Lokesh invited the institution to establish a branch in Amaravati and explore infrastructure financing opportunities for projects including Amaravati, industrial parks and power infrastructure.

He also sought support for start-ups and SMEs through collaboration with the Ratan Tata Innovation Hub (RTIH).Lokesh also met Boo Young Group CEO Ryan Kang and invited the company to establish a footwear and components manufacturing unit in Andhra Pradesh. The company expressed interest in setting up operations in the state and said it was exploring ready-built industrial facilities.Addressing a roundtable organised by the Korea Marine Equipment Association (KOMEA), Lokesh invited Korean marine equipment manufacturers to invest in the proposed ₹30,000-crore Dugarajapatnam shipbuilding cluster being developed over 3,488 acres.

He proposed localisation of marine equipment manufacturing, testing and certification facilities, common infrastructure and collaboration with the Andhra Pradesh Maritime Board on skill development, research and technology initiatives.In talks with Hwaseung Group, which has already announced a ₹900-crore non-leather footwear manufacturing unit in Kuppam, Lokesh proposed an integrated footwear components and materials manufacturing cluster, an Asia-Pacific footwear R&D centre and a broader South India manufacturing ecosystem linking Kuppam, Tirupati and Visakhapatnam.Lokesh also visited the Shoealls manufacturing facility in Busan and reviewed the company’s medical footwear technologies, including magnetic therapy systems, vibration-chip integration, cooling systems and AI-assisted smart healthcare footwear being developed in collaboration with South Korean universities and medical institutions.