Two South Korean auto firms to invest ₹1,370 crore in Tamil Nadu
Hwashin and Seoyon have submitted letters of intent to expand their operations in the state over the next five years.
Two South Korean automotive component manufacturers, Hwashin Automotive India Private Limited and Seoyon E-Hwa Summit Automotive India Private Limited, have expressed plans to invest a combined ₹1,370 crore in Tamil Nadu, according to The Hindu.
The companies, which supply parts to Hyundai Motor India Limited (HMIL) and Kia, met with Tamil Nadu Industries Minister S. Keerthana on Wednesday, November 11, 2026.
Hwashin Automotive, which has operated in Sipcot Industrial Park, Irungattukottai since 2002, intends to invest ₹850 crore over five years. The funds are designated for improving manufacturing technologies, local production, expanding capacity, and advancing research and new projects.
Seoyon E-Hwa Summit Automotive has proposed an investment of ₹520 crore for business development and technological upgrades. The company's managing director, Yea Sungho, stated in a letter that the move reaffirms their long-term commitment to the state as a manufacturing base.
These announcements follow reports that the firms, along with Iwamet, were considering moving manufacturing investments to Andhra Pradesh. Minister Keerthana said the proposed investments are a reaffirmation of the trust global manufacturers place in the state's ecosystem.
The companies are expected to sign formal memorandums of understanding at the upcoming Investment Conversion Conclave of the TVK government.