Hwaseung's ₹1,720 Crore Boost for Tuticorin

South Korea-based Hwaseung Footwear Group is set to establish its first non-leather footwear manufacturing facility in Tuticorin, Tamil Nadu, with an investment of ₹1,720 crore.

This marks the company’s formal entry into India and is expected to generate 20,000 direct jobs, making it one of the largest employment-generating footwear projects in the state.

Industries Minister TRB Rajaa stated that the investment reflects the Tamil Nadu government's success in converting MoUs signed during the TN Rising Tuticorin Investors Conclave into actionable projects. Held on August 4, the conclave resulted in the signing of 41 MoUs worth ₹32,553.85 crore, with a projected employment potential of 49,845 jobs across the state.

Chief Minister MK Stalin met with senior executives from Hwaseung at the Secretariat to finalise the project. Minister Rajaa emphasized that this initiative would further strengthen Tamil Nadu’s manufacturing ecosystem and promote inclusive economic growth.

Since 2021, Tamil Nadu has attracted investment commitments totaling ₹10.32 lakh crore, with 77% of MoUs already translated into grounded projects.

News by Rahul Yelligetti.