South Korea company keen to set up R&D facility in Haryana
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The officials of South Korea-based multinational company Seoul Semiconductor on Friday called on Haryana Chief Minister Manohar Lal Khattar here to explore the possibility of setting up a research and development (R&D) facility in the state to cater to the needs of the Indian market.
The company, which is into the business of manufacturing compound semiconductors and innovative LED lighting, already has its office in Gurugram.
The South Korean Ambassador to India, the President of the Federation of Korean Associations and the representatives of Korea Chamber of Commerce and Industry (KOCHAM) in India joined the meeting virtually.
Seoul Semiconductor handed over medical supplies, including masks, gloves and mobile air purifiers, to the Haryana Chief Minister to support the state's fight against the Covid-19 pandemic.
Arshi Krishnachar, India Head and Vice President, Seoul Semiconductor, told the media on the sidelines of the meeting that the company is exploring the possibility of setting up an R&D facility in Gurugram.
"The state 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 an R&D unit in Haryana by 2023 to cater to the Indian and overseas markets, including the US and the Middle East," he added.
At present, the company has its manufacturing facilities in Korea, China, Vietnam and the US.
Korean Ambassador Shin Bong-kil said, "Haryana is one of the favourite destinations for the global investors. Taking advantage of the state's business-friendly environment and policies, Korean companies have a strong foothold in the state."
