Industries Minister M.C. Sampath on Monday told a delegation of Korean companies that the State would continue to offer attractive incentives if they wanted to invest here.

Offer of incentives

“Post Goods and Services Tax (GST) also, the State is willing to offer attractive incentives. We also invite more Korean firms to participate in the upcoming Global Investors’ Meet and increase Korean investments in the State” he said, while delivering his address at the inauguration of the Korean Chamber of Commerce & Industry in Southern India.

Industries Secretary K. Gnanadesikan said that the State was restructuring incentives to industries post-GST on a case-by-case basis.

Kwi Ho Shin, Chairman, Korean Chamber of Commerce & Industry in Southern India, said the idea behind opening a Chamber of Commerce in south India was to bring together all the Korean firms in this region. “There are 350 Korean firms in Tamil Nadu,” he said.

According to statistics released by the Chamber, there are 450 Korean firms in south India and 6,000 Koreans in this region. The prime objective of the chamber is to promote the rights of Korean companies and create jobs for the young Koreans. The chamber has also indicated that with this the relationship between Korea and Tamil Nadu will be strengthened further.

source: http://www.thehindu.com / The Hindu / Home> News> Cities> Chennai / by Staff Reporter / Chennai – June 05th, 2018