Telangana Chief Minister Revanth Reddy Leads Delegation to South Korea for Investment Talks
Hyderabad (Telangana) [India], August 12: A Telangana government delegation led by Chief Minister Revanth Reddy and Minister Sridhar Babu began their tour of South Korea after completing a successful tour of the USA. The aim is to secure further investments in the state.
In a press release, the Telangana Chief Minister’s Office (CMO) stated, “Good morning from Korea. Delighted to share with all of you that our Korean tour started off on a very positive note.”
The delegation started their day with discussions with LS Corp, one of Korea’s biggest industrial conglomerates, formerly part of the LG group. They met with LS Group’s Chairman Koo Ja Eun and his senior leadership to discuss manufacturing investments in Telangana for electric cables, gas, energy, and batteries.
Chief Minister Reddy said, “The LS team will visit our state shortly on my invite. I am very positive we will formally welcome them to Telangana as an investor in the coming days.”
Earlier, CM Revanth Reddy concluded his US tour on a high note, securing over Rs 31,500 crore in investment plans, which would bring over 30,750 new jobs. The delegation held Roundtable Conferences on business, AI, and semiconductors, and met with CEOs, founders, and business alliances, inviting them to consider Telangana in their plans.
The delegation promoted Hyderabad and Telangana to business heads and investors across various sectors, closing new and expansion deals in IT, GCC, Lifesciences, Pharma, Data Centres, AI, Cloud and Data Centres, Electric Vehicle and batteries, green energy, FMCG, and manufacturing.
Major announcements in the IT sector include the Charles Schwab GCC, one of America’s leading financial sector corporations. The Trinet deal opens major opportunities in the HR solutions sector. Significant expansion announcements by global IT major Cognizant and Arcesium reinforced Hyderabad’s edge in the IT/GCC space.
Doubts Revealed
Telangana -: Telangana is a state in southern India. It was formed in 2014 when it separated from Andhra Pradesh.
Chief Minister -: A Chief Minister is the head of the government in an Indian state, similar to a principal of a school but for the whole state.
Revanth Reddy -: Revanth Reddy is a politician and the current Chief Minister of Telangana.
South Korea -: South Korea is a country in East Asia, known for its advanced technology and companies like Samsung and Hyundai.
Investment Talks -: Investment talks are discussions aimed at getting companies to put money into projects or businesses in a particular area.
LS Group -: LS Group is a large company in South Korea that works in various industries like electric cables, gas, and energy.
Chairman Koo Ja Eun -: Koo Ja Eun is the leader of LS Group, similar to a principal but for a big company.
US visit -: The US visit refers to a trip made by the Telangana delegation to the United States to attract investments.
Rs 31,500 crore -: Rs 31,500 crore is a large amount of money, where 1 crore equals 10 million rupees.
30,750 jobs -: 30,750 jobs means that many new positions for work were created, helping people get employment.
IT -: IT stands for Information Technology, which involves computers and software.
AI -: AI stands for Artificial Intelligence, which is when machines can do tasks that usually need human intelligence, like understanding speech or playing games.
Green energy -: Green energy is energy that comes from natural sources like the sun or wind, which are better for the environment.
