BJP slams govt over South Korean investment shifting to Andhra

Chennai: Tamil Nadu BJP leader Narayanan Thirupathy on Monday hit out at the TVK government for losing crucial foreign manufacturing investments, alleging that three South Korean auto-parts suppliers have diverted a combined Rs 1,614 crore project to neighbouring Andhra Pradesh.

In a statement posted on social media, Thirupathy claimed that Hyundai and Kia suppliers Hwashin, Seoyon, and Iwamet have signed MoUs with the Andhra Pradesh government to establish facilities in Anantapur. The combined investment is expected to create 1,418 jobs.

The Tamil Nadu BJP’s chief spokesperson said that discussions with these companies had initially taken place under the previous DMK government. He noted that Hwashin and Seoyon are already operating in Sriperumbudur and Krishnagiri, while Iwamet had registered an entity in Tamil Nadu.

Despite this existing presence, he alleged that the TVK government “failed to convert these engagements into investment commitments.”

Thirupathy attributed Andhra Pradesh’s successful acquisition of the projects to a July 2026 roundtable held in Seoul by IT Minister Nara Lokesh, followed by sustained outreach by the AP Economic Development Board.

Criticising the state administration’s inaction, he stated that the TVK government “stood by while ready investments walked away” and allowed a neighbouring state to secure the factories through faster execution. He also claimed that Tamil Nadu’s nodal investment agency, ‘Guidance’, had not responded to queries regarding the development.

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