Korean firm Hyosung TNS is considering the establishment of a greenfield manufacturing facility in Tamil Nadu for the production of ATMs, serving both domestic and global markets, said S. Keerthana, Minister for Industries, Investment Promotion and Commerce, in a post on X. “We will extend our full support to this initiative and look forward to welcoming Hyosung TNS to Tamil Nadu,” she added.

“During my visit to South Korea, I had a productive meeting with the leadership of Hyosung TNS, a global leader in self-banking technologies. We discussed opportunities in Tamil Nadu and explored potential collaborations in advanced manufacturing and technology sectors,” she said. “The government of Tamil Nadu is committed to strengthening the State’s industrial ecosystem and attracting global manufacturing investments,” she added in the post.

Founded in Seoul, South Korea, in 1966, the Hyosung Group is a diversified industrial conglomerate with businesses spanning textiles, trading, chemicals, construction and industrial materials, among other sectors. The company has operations in over 30 countries, employs around 30,000 people worldwide, and records annual group-wide sales exceeding $11 billion. Hyosung already has a presence in India across multiple industrial sectors, including man-made fibre textiles, switchgear, and transformers.

The visit to South Korea was the Minister’s maiden overseas trip since assuming charge as Industries Minister last month. During her trip, she also visited HD Hyundai Heavy Industries (HHI), South Korea.

HD Hyundai had signed a deal with Tamil Nadu government in December 2025 during the previous DMK regime to build a new shipyard in Thoothukudi, entailing investments to the tune of ₹40,000 crore

“The proposed Thoothukudi Greenfield Shipyard is one of the earliest outcomes of the India–Republic of Korea maritime cooperation framework and reflects the growing strategic partnership between our two countries in the maritime sector. The project is envisaged as a mega greenfield shipyard with the capability to support large commercial vessel segments and strengthen India’s long-term shipbuilding capacity,” Ms. Keerthana said on X earlier this week.

Tamil Nadu is home to over 150 Korean companies; more than 4,000 Korean families reside in the State, forming the biggest expat community here.

Ms. Keerthana also met the leadership team of Motilink in Seoul as part of our investment outreach efforts in South Korea. Motilink, a manufacturer of automotive electronics and a key supplier to Hyundai and Kia, expressed interest in expanding their manufacturing facility in Tamil Nadu to serve its OEM partners in India and abroad.