South Korea based multinational company Seoul Semiconductor is keen to set up a research & development (R&D) facility in Haryana and even expand its existing operations to cater to the needs of the Indian market and customers. Later the company could also set up a manufacturing unit in the state.
The company’s top officials met Haryana Chief Minister Manohar Lal Khattar in Chandigarh today to discuss the issue. The company which is into the business of manufacturing compound semiconductors and innovative LED lighting already has its office in Gurugram. The company also donated medical supplies including masks, gloves, and innovative mobile air purifiers, which can be fitted in ambulances and other vehicles to Khattar in the state government fight against Covid 19 pandemic.
“The Haryana government has offered us multiple locations to set up 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 USA, middle east etc,” Arshi Krishnachar, India head and vice president, Seoul Semiconductor said.
South Korean Ambassador to India Shin Bongkil along with senior members of Korean Associations and representative of Korea Chamber of Commerce and Industry (KOCHAM) in India also joined the meeting online organised by Asian Community News.
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The company has its manufacturing facilities in Korea, China, Vietnam and USA. South Korea has quietly upped its game on manufacturing semiconductors, which has been dominated by the US.
Recently, the sleepy port city of Pyeongtaek in South Korea got an ultra-modern makeover as electronics major Samsung set up its third mega semi conductor plant. According to Data Center Dynamics, South Korea is slated to spend $451 billion on domestic semiconductor production over the next decade. The funds will come from a mixture of government support packages, tax incentives, and corporate investment pledges, the electronics and data magazine said.
Last month, Samsung announced an investment of $151 billion through to 2030 in its System LSI and Foundry businesses, an increase of $33.6 billion over its previous investment plans.
Meanwhile, Shin said that Haryana remains a favourite investment destination for global investors. “Taking advantage of the state’s business-friendly environment and policies, Korean companies have a strong foothold in the state,” Shin said.
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Sanjeev K Ahuja, promoter of Asian Community News told India Narrative that Gurugram has become home to many Southeast Asian expatriates. “By and large the expat community is satisfied with the investment and business climate in India, especially Haryana,” he said.
Samsung Electronics, POSCO, Doosan Heavy Industries are among the top Korean companies that are already present in Haryana. SD BioSensor, a Korean bio-diagnostic company, which supplied almost 70 per cent 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.
