Sri City eager to create exclusive Korea cluster within the SEZ
According to a recent announcement made by Sri City, the multi-product operational Special Economic Zone (SEZ) is interested in creating an exclusive cluster for Korean firms.
With the Sri City SEZ – which is located at a distance of nearly 60 km from Chennai – having already created a special cluster for Japanese firms, the cluster approach will likely give the SEZ a notable edge, in the form of location advantage, if Korean companies are eyeing South India as a potential destination for setting up manufacturing bases In India.
Sri City recently exhibited its apparent eagerness to create an exclusive zone for Korean firms, when it invited South Korean Consul-General and representatives from nearly 30 South Korean firms located in Chennai and its neighbouring areas. To the invitees, Sri City chiefly showcased the advantages it offers in its SEZ.
With regard to setting up a special cluster for Korean firms at the SEZ, Sri City Managing Director Ravindra Sannareddy said that the SEZ currently has nearly 25 different national flags at the SEZ, and is keen on adding the Korean flag also.
Though Sannareddy acknowledged the fact that “not many Korean companies have come to this part of the country;” he also added alongside: “We intend to lure the firms that are waiting to come here… We have told them that we can offer land for developing the Korean cluster so that their companies can stay together.”
Source – The Hindu
