Two South Korean auto firms commit Rs 1,370 crore to Tamil Nadu
Hwashin and Seoyon E-Hwa Summit Automotive have submitted letters of intent to invest in the state, refuting claims of project shifts to Andhra Pradesh.
Two South Korean automotive component manufacturers, Hwashin Automotive India Private Limited and Seoyon E-Hwa Summit Automotive India Private Limited, have committed a combined Rs 1,370 crore to Tamil Nadu, according to reports by The Hindu and Moneycontrol.
The companies met Industries Minister S Keerthana on Wednesday, November 11, 2026, to express their interest. Both firms are suppliers to Hyundai Motor India Limited (HMIL) and Kia.
Hwashin Automotive India Private Limited, which has operated in Sipcot Industrial Park, Irungattukottai since 2002, plans to invest approximately Rs 850 crore over five years. The funds will be used for new project development, localisation, capacity expansion, and improving manufacturing technologies and R&D.
Seoyon E-Hwa Summit Automotive India Private Limited has proposed an investment of Rs 520 crore for business development and technological upgrades. The firm operates across the Chengalpattu and Kanchipuram districts.
The announcement follows reports that Hwashin, Seoyon, and Iwamet were considering moving manufacturing investments to Andhra Pradesh. The government described claims that investments were being diverted to the neighbouring state as completely false.
Minister Keerthana stated that the proposed investments reaffirm the trust global manufacturers place in the state's ecosystem. Formal memorandums of understanding are expected to be signed at the upcoming Investment Conversion Conclave of the TVK government.