In the meeting, both parties discussed the opportunities for Korean companies to invest in various sectors such as Electronics, Textiles, Food Processing, Pharma and other priority sectors in Telangana.
The Korean delegation is on tour of Telangana, looking for investment opportunities and also to strengthen the ties between Telangana and Korea.
During the meeting, Minister KTR gave an overview of the progressive industrial policies of the state and stated that the Telangana government will work together with organizations like Korea International Trade Association (KITA), Korea Trade-Investment Promotion Agency (KOTRA) to support the Korean companies in Telangana.
“Telangana is keen on attracting South Korean companies in a big way and is willing to set up an exclusive cluster of such firms,” said Minister KTR. During the meeting, he stated that the Telangana government will provide complete assistance to the interested companies from Korean.
Minister KTR stated that Telangana is already home to several marquee companies, some of which are based out of S Korea as well. Highlighting the state’s industrial policy, he said, “Telangana has the best industrial policy in the country.” He also stated that Telangana is consistently ranked top in Ease of Doing Business in the country.
In the meeting, Ambassador Shin Bongkil said that Korea is keen on expanding its business footprint in the State. The chiefs of Korean companies expressed their satisfaction over the innovation ecosystem set up in Telangana.
Telangana state Chief Secretary SK Joshi and Principal Secretary Jayesh Ranjan were present. (INN)