Chandigarh: The South Korea-based multinational company Seoul Semiconductor is exploring the possibility of setting up a research & development (R&D) facility in Haryana to cater to the needs of the Indian market.
The company which is in the business of manufacturing compound semiconductors and innovative LED lighting already has its sales office in Gurugram, Haryana.
This development came to the fore on June 25 when Seoul Semiconductor handed over masks, gloves, and Mobile Air Purifiers (Violeds technology) to the Haryana CM to support the Haryana government in fighting the COVID-19 pandemic.
Asian Community News (ACN) Network organised the event at the official residence of Haryana CM in Chandigarh.
Arshi Krishnachar, India head, and vice president, Seoul Semiconductor told the media persons on the sidelines of the meeting that the company was exploring the possibility of setting up an R&D facility in Gurugram.
“The Haryana government has offered us multiple locations to set up a manufacturing facility, R&D facility, logistic hubs, etc and would take a call to set up R&D by 2023 in Haryana to cater to Indian and overseas market including the USA, middle east, etc,” he added.
The company has its manufacturing facilities in Korea, China, Vietnam, and the USA. Harry Jung, EVP, Seoul Semiconductor, and HM Kim, EVP, Seoul Viosys Co. Ltd. joined the meeting online from Korea.
Organized by ACN Network, the meeting in Chandigarh aimed at discussing ways and means of enhancing Korean investment opportunities in the Haryana state.
The Haryana CM Manohar Lal Khattar said a number of South Korean companies are keen on investing in Haryana, hence maintaining a healthy relationship becomes even more important for the State Government. He assured all possible cooperation from the State Government.
He directed the officers of the Department of Foreign Cooperation to hold such important meetings at regular intervals adding that South Korea was an important trade and investment partner for India.
The Chief Minister said that Haryana was growing every day and achieving new milestones, and among the various business models like B2B, G2G, B2G, we believe in the H2H model of work i.e. ‘Heart to Heart’.
Shin Bong-kil, the South Korean Ambassador to India, Euy Don Park, President, Federation of Korean Associations in India, and Vice president of Korea Chamber of Commerce and Industry (KOCHAM) in India joined the meeting online.
Shin Bong-kil said, “Haryana is one of the favorite destinations for global investors. Taking advantage of the state’s business-friendly environment and policies, Korean companies have a strong foothold in the state. Samsung Electronics, POSCO, Doosan Heavy Industries are some important Korean companies that have their business presence in the state for quite some time now. SD Biosensor, a Korean bio-diagnostic company, which supplied almost 70 percent of India’s rapid test-kits demand to fight the deteriorating Covid-19 situation in the country also has its manufacturing unit in the state.”
Euy Don Park, President, Federation of Korean Associations in India, and VP – KOCHAM, said, “ Most of the major multi National Company from Korea has their head office in Gurgaon including Samsung Electronics, Hyundai Motors, Kia Motors and Posco and Seoul Semiconductors also. And Haryana is also the manufacturing and logistics base of major Korean companies of around 20s like Lotte confectionary in Lotak, Lotte chemical, Posco, and LS Cable in Rewari Bawal, SD Biosensor in Manesar.”
“All the management people from these Haryana-based Korean corporations could have a wonderful gathering at Gurgaon DLF golf course in around 2 years back as honourable CM has especially taken care of the occasion for Korean Industry representatives thankfully,” he added.
Also present in the meeting were Chief Principal Secretary to Chief Minister, D.S. Dhesi, Principal Secretary, Department of Foreign Cooperation, Yogender Chaudhary, Director General, Department of Foreign Cooperation, Anant Prakash Pandey, Advisor, Department of Foreign Cooperation, Pawan Chaudhary.
