Amid reports of Korean firms shifting to A.P., Hwashin and Seoyon commit ₹1,370-crore investments in T.N.
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Officials from both companies have submitted letters expressing their intent to invest in the State.
Two South Korean automotive component manufacturers, Seoyon E-Hwa Summit Automotive India Private Limited and Hwashin Automotive India Private Limited, met Tamil Nadu Industries Minister S. Keerthana on Wednesday (November 11, 2026), and expressed interest in investing in the State.
Officials from both companies have submitted letters expressing their intent to invest in the State, and a formal MoU is expected to be signed at the upcoming Investment Conversion Conclave of the TVK government, sources said. Both the companies are key suppliers to Hyundai Motor India Limited (HMIL) and other leading automotive OEMs.
Hwashin Automotive has given a commitment to invest ₹850 crore over the next five years towards research and development, advanced manufacturing technologies, localisation, capacity enhancement and new project development in Tamil Nadu. The firm has been operating in Tamil Nadu since 2002 from its facility at Sipcot Industrial Park, Irungattukottai. The investment proposal letter was signed by its CFO, Sang Yeol Han.
Seoyon E-Hwa Summit Automotive has proposed to invest ₹520 crore towards technology up-gradation and business development initiatives. The letter was signed by its managing director, Yea Sungho. “This proposed investment reaffirms our long term commitment to Tamil Nadu as a strategic manufacturing base. Our Tamil Nadu operations will continue to play a critical role in supporting the evolving requirements of HMIL while enabling us to strengthen partnerships with existing and emerging OEM customers,” Mr.Sungho mentioned in his letter.
The developments assume significance in the wake of recent reports that Hwashin, Seoyon and Iwamet, suppliers to Hyundai and Kia, were exploring the possibility of shifting their proposed manufacturing investments from Tamil Nadu to Andhra Pradesh.
Commenting on the development Minister Keerthana, said: “Investors make their decisions based on the strength of an ecosystem, the quality of its institutions and the confidence they have in its future. The proposed investments of ₹1,370 crore by Hwashin and Seoyon are a strong reaffirmation of the trust that global manufacturers continue to place in Tamil Nadu.”
The state, she said, has never shied away from competition. “We welcome healthy competition between states because it ultimately strengthens India’s manufacturing capabilities,” she said adding, “this should also send a strong signal to people who have been doubting the institutions like Guidance Tamil Nadu for petty political gains.”
Hyundai’s integrated manufacturing facility near Chennai has an installed annual capacity of 8,24,000 units.
S. Vijayakumar, Additional Chief Secretary to the Industries, Investment Promotion and Commerce Department, and Deepak Jacob, Managing Director and Chief Executive Officer of Guidance Tamil Nadu, participated in the meeting.
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