A delegation of senior executives from South Korea-based shipbuilding giant HD Korea Shipbuilding and Offshore Engineering (HD KSOE), headed by Young Hoon Kwon, Director, Global Business Division, on Wednesday (June 17, 2026) met Tamil Nadu Chief Minister C. Joseph Vijay at the Secretariat in Chennai.

They held discussions with the Chief Minister regarding the proposed mega greenfield shipyard project in Thoothukudi, with an investment of about ₹38,000 crore, which is expected to generate 15,000 jobs.

According to an official release, the National Shipbuilding and Heavy Industries Park Tamil Nadu Limited (NSHIPTN), a special purpose vehicle jointly promoted by SIPCOT and the V.O. Chidambaranar Port Authority (VOCPA), had obtained in-principle approval from the Directorate General of Shipping.

During the meeting, the Chief Minister assured the executives that the Tamil Nadu government would extend all necessary support to ensure the speedy execution of the project. He also promised administrative support and cooperation at every stage of implementation, the release said.

Minister for Industries S. Keerthana, Chief Secretary M. Saikumar, Additional Chief Secretary (Industries, Investment Promotion and Commerce) S. Vijayakumar, TIDCO Chairman and Managing Director D. Karthikeyan, SIPCOT Managing Director C.A. Raman, and senior officials were present at the meeting.

Pact with IN-SPACe

Separately, Ms. Keerthana, along with officials, also met the Chief Minister and showed him the agreement signed between the Tamil Nadu government and IN-SPACe for establishing a Common Technical Facility Centre for Space Vehicles at the Allikulam SIPCOT Industrial Park in Thoothukudi district.

The agreement was signed on June 11, 2026, by Mr. Karthikeyan on behalf of the Tamil Nadu government, while Anupam Anand, Joint Secretary of IN-SPACe, signed on behalf of the agency during the 10th IN-SPACe Industry Connect held in Ahmedabad.

Under the agreement, IN-SPACe will provide equipment worth ₹100 crore and the Tamil Nadu government will provide land and develop infrastructure and other facilities, an official release said.

The new facility is set to come up near the proposed Kulasekarapattinam spaceport and is expected to become a major manufacturing hub for launch vehicle components, satellite systems, propulsion systems, avionics, composite structures, and other critical space equipment.

The initiative is expected to attract private investment, create high-technology jobs, strengthen domestic industrial capabilities, and promote innovation in the space sector, the release added.