Hyosung TNS eyes ATM manufacturing plant in Tamil Nadu: Industries Minister

Industry Minister S. Keerthana with representatives of Hyosung TNS in South Korea | Photo credit: X/@Keerthana4VNR

Korean firm Hyosung TNS is considering setting up a greenfield manufacturing plant in Tamil Nadu to manufacture ATMs to serve the domestic and global markets, Industry, Investment Promotion and Trade Minister S. Keerthana said in a post on X. “We will fully support this initiative and look forward to welcoming Hyosung TNS,” she added.

“During my visit to South Korea, I had a productive meeting with the management of Hyosung TNS, a global leader in self-banking technology. 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 investment,” she added in the post.

Founded in Seoul, South Korea in 1966, the Hyosung Group is a diversified industrial conglomerate with businesses including textiles, trade, chemicals, construction and industrial materials, among others. The company operates in more than 30 countries, employs approximately 30,000 people worldwide and has annual group sales in excess of USD 11 billion. Hyosung already has a presence in several industries in India, including man-made textiles, switchboards and transformers.

The visit to South Korea was the minister’s first overseas trip since taking over as industry minister last month. During her trip, she also visited HD Hyundai Heavy Industries (HHI), South Korea.

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

“The proposed Thoothukudi Greenfield Shipyard is one of the first outcomes of the India-ROK maritime cooperation framework and reflects the growing strategic partnership between our two countries in the maritime sector. The project is envisioned as a greenfield mega yard with the capability to support the large commercial vessel segments and strengthen India’s long-term shipbuilding capacity,” Ms Keera said at X this week.

Tamil Nadu is home to more than 150 Korean companies; more than 4,000 Korean families live in the state, making up the largest expat community here.

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

Published – 13 Jun 2026 15:11 IST