Two memorandums of understanding (MoUs) for ₹1,040 crore were signed by the Karnataka government in Seoul, South Korea, with DN Solutions and EMNI. MB Patil, the Minister for Infrastructure Development and Large and Medium-Sized Industries, took part in the roadshow in Seoul.
Over the next seven to 10 years, 350 jobs will be created by DN Solutions’ ₹1,000 crore investment to establish machine manufacturing facilities, a research and development centre, and a technical support centre for Indian manufacturing enterprises. In order to store, test, and recycle the battery cells produced by LG Energy Solution in Karnataka, EMNI would invest ₹40 crore in battery technological advancements.
Karnataka Government Signs Agreements Worth ₹1,040 Crore with Korean Companies
The Karnataka government has signed multiple agreements with leading South Korean companies, securing investments worth ₹1,040 crore across various sectors. This collaboration aims to strengthen industrial development, job creation, and technology transfer in the state, reinforcing Karnataka’s position as a key investment hub in India.
Key Sectors of Investment
The agreements cover diverse sectors, including manufacturing, electric vehicles (EVs), renewable energy, and electronics, aligning with Karnataka’s vision for sustainable economic growth.
- Electric Vehicles (EV) & Battery Manufacturing – With Karnataka being a leader in India’s EV revolution, South Korean firms are investing in battery production, charging infrastructure, and EV components, supporting the state’s green mobility initiatives.
- Electronics & Semiconductor Industry – Investments in chip manufacturing, display technology, and precision engineering will enhance Karnataka’s electronics manufacturing ecosystem, contributing to India’s self-reliance in semiconductor production.
- Renewable Energy & Green Technology – South Korean companies will collaborate on solar, wind, and hydrogen energy projects, helping Karnataka meet its clean energy targets and reduce carbon emissions.
- Advanced Manufacturing & R&D – The partnerships will boost Karnataka’s industrial capabilities in robotics, automation, and smart manufacturing, fostering innovation-driven growth.
- Boost to Karnataka’s Economy
These investments are expected to generate thousands of direct and indirect jobs, promote skill development, and enhance technology-sharing between India and South Korea. The agreements also strengthen Karnataka’s ties with South Korea, which is among the world’s leading technology and manufacturing hubs.
The state government has assured full support in terms of infrastructure, policy incentives, and ease of doing business, making Karnataka an attractive destination for foreign direct investment (FDI).
Strengthening India-South Korea Relations
This collaboration reflects the growing economic and trade ties between India and South Korea. With Karnataka being a preferred investment destination, the agreements mark another step toward strengthening bilateral cooperation in technology and innovation.
With these strategic investments, Karnataka is set to accelerate its industrial growth, sustainability efforts, and global competitiveness, further solidifying its reputation as India’s innovation.
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