Greater Noida: Uttar Pradesh is positioning itself as a major destination for semiconductor manufacturing and electronics industries, with the state government stepping up efforts to attract investment from South Korean companies.
A roundtable meeting held in Greater Noida focused on investment opportunities, industrial infrastructure, state policies and the proposed Korea City project. Discussions covered potential investments in semiconductors, specialty chemicals, electronic materials, automobile components and advanced manufacturing.
A business delegation from the Korea World Class Enterprise Association (KWCEA), representing more than 400 South Korean companies, visited Uttar Pradesh from October 12 to 15 to explore opportunities for industrial expansion and business partnerships.
Representatives of 18 companies participated in the roundtable, including Unitech, Hana Micron, Dongjin Semichem and Shilla Industrial. Indian industry representatives also attended the meeting.
The proposed investments are expected to strengthen Uttar Pradesh’s electronics and advanced manufacturing ecosystem, while creating opportunities for technology partnerships, employment generation and the development of local supplier networks.
Korea City Project Among Key Investment Proposals
During the meeting, the Uttar Pradesh Electronics Corporation Limited (UPELC) presented the state’s electronics policy, while Invest UP outlined the Foreign Direct Investment (FDI) policy and investment incentives available to companies.
The Greater Noida Industrial Development Authority provided details about available industrial land, while the Yamuna Expressway Industrial Development Authority presented the proposed Korea City project.
The project is being considered an important initiative to attract South Korean manufacturers by providing industrial infrastructure and opportunities to establish production facilities in Uttar Pradesh. It could also help Korean companies expand their presence in the Indian market.
Focus on Global Investors and Employment Generation
The state government also shared details of its FDI/Fortune Global 500 and Fortune India 500 policies, Investment Promotion Policy 2023 and Global Capability Centre (GCC) Policy 2024.
These policies are aimed at attracting foreign investment, encouraging global companies to establish operations in Uttar Pradesh and generating employment opportunities.
The South Korean delegation’s visit has opened up avenues for greater industrial cooperation between Uttar Pradesh and South Korea. Potential investments in semiconductors, electronics, automobile components and advanced manufacturing could strengthen the state’s industrial supply chain and expand its technological capabilities.
The state government is seeking to leverage these partnerships to develop Uttar Pradesh into a major manufacturing hub with stronger links to global industrial networks.
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