PM Narendra Modi meets CEOs of Hyundai, Samsung, Posco, LG in Korea

KOLKATA | MUMBAI: Prime Minister Narendra Modi’s meetings with CEOs of Korea Inc to pitch for more investment into India may lead to immediate fructification, with the companies assuring they are keen to expand, senior officials of these companies in India said.

While carmaker Hyundai wants to set up a third automobile plant in India and diversify into construction and railway sectors in India, Samsung and LG may partner the government in building smart cities and expand their India manufacturing for global markets, which includes setting up complete mobile phone manufacturing with a semi-conductor facility in India.

Investment into ship building may also flow with the prime minister meeting top officials of Samsung Heavy Industries and Hyundai Heavy Industries Shipyard and assuring them that the sector is a top priority in India.

After the meetings, Modi posted several tweets: “My one-toone meetings with top Korean CEOs were great; learnt more about their work & invited them to @makeinindia”.

In another tweet he said: “Hyundai Heavy Industries Shipyard is very impressive. I asked them to come to India & explore the vast opportunities.”

“Explained the steps we have taken to facilitate ease of doing business at the India-Republic of Korea CEOs Forum.” Modi on Tuesday had private meetings with Samsung Electronics president and head of IT and mobile communications business JK Shin, LG Electronics vice-chairman Bon-joon Koo, Lotte Group chairman Dong Bin Shin, Hyundai Motor Group chairman Chung Mong-Koo, Posco CEO Kwon Oh-joon, Samsung Heavy Industries president and CEO Dae-young Park, and Doosan Group chairman YM Park.

He also visited Hyundai Heavy Industries Shipyard at Ulsan and met chairman Kilseon Choi.