Karnataka Signs Big Deals with DN Solutions and EMNI Co. Ltd in South Korea
The Karnataka government has signed two major agreements worth Rs 1040 crores with DN Solutions and EMNI Co. Ltd in Seoul, South Korea. These agreements were signed during a delegation led by Minister for Large and Medium Industries and Infrastructure Development, MB Patil.
DN Solutions’ Investment
DN Solutions has committed Rs 1000 crores to enhance Karnataka’s manufacturing capabilities. This investment will establish advanced machine manufacturing facilities, a research and development center, and a technical support hub for Indian manufacturing firms. The initiative is expected to create approximately 350 jobs over the next 7-10 years.
EMNI Co. Ltd.’s Contribution
EMNI Co. Ltd., represented by CEO Chang-hoon Koh, has signed an MoU worth INR 40 crores to advance battery technology in Karnataka. This project focuses on the storage, testing, and recycling of LG Energy Solution’s battery cells, crucial for the electric vehicle and energy storage sectors. It is expected to create 100 new jobs.
Investment Roadshow
The MoU signings were preceded by a ‘Roadshow on Investment Opportunities in Karnataka’ in Seoul, organized by the Karnataka government, the Embassy of India, and the Indian Chamber of Commerce in Korea (ICCK). The event showcased Karnataka’s robust industrial ecosystem and investor-friendly policies, attracting over 45 prominent companies.
Strengthening Trade Relations
Minister MB Patil held discussions with MOTIE officials, led by Deputy Minister Byung Nae Yang, to strengthen bilateral trade relations. MOTIE pledged support for business engagements between Karnataka and South Korea. MB Patil also met with Lee Seong Woo, Vice President of the Korea Chamber of Commerce & Industries (KCCI), to discuss investment opportunities in Karnataka.
Future Plans
MB Patil invited DN Solutions, EMNI, and KCCI to participate in Karnataka’s upcoming Global Investors Meet, Invest Karnataka 2025, to explore further investment opportunities.
