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Karnataka Signs MoUs Worth INR 1040 Cr with DN Solutions and EMNI in Seoul The MoU signings were preceded by a 'Roadshow on Investment Opportunities in Karnataka' in Seoul, jointly organised by the Government of Karnataka and the Indian Chamber of Commerce in Korea (ICCK).

By Paromita Gupta

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Minister M B patil, Selvakumar S(IAS), Gunjan krishna(IAS) with delegates from DN Solutions at the MoU signing event

The Government of Karnataka has signed two pivotal Memorandum of Understanding (MoUs) totaling INR 1040 crore with DN Solutions and EMNI Co Ltd in Seoul, South Korea.

These agreements were signed during a delegation led by the Minister for Large and Medium Industries and Infrastructure Development, MB Patil.

Karnataka has secured a major investment from DN Solutions, with the company committing INR 1000 crores towards establishing machine manufacturing facilities, a research and development center, and a technical support center for Indian manufacturing companies. This initiative is projected to create approx 350 jobs over the next 7–10 years, significantly contributing to the state's industrial growth.

Additionally, EMNI Co Ltd, represented by CEO Chang-Hoon Koh, has signed an MoU worth INR 40 crore to invest in the storage, testing, and recycling of LG Energy Solution's battery cells in Karnataka. This project is anticipated to generate 100 jobs in Karnataka.

The MoU signings were preceded by a 'Roadshow on Investment Opportunities in Karnataka' in Seoul, jointly organised by the Government of Karnataka and the Indian Chamber of Commerce in Korea (ICCK). The roadshow highlighted Karnataka's robust industrial ecosystem, investor-friendly policies, and progressive business climate, attracting participation from over 45 companies, including Hyundai Welding Co and Krafton.

Patil also met with Ministry of Trade, Industry, and Energy (MOTIE) representatives, discussing enhancing trade relations, increasing investment volumes, and exploring synergies between Karnataka's and Korea's innovative ecosystems. The MOTIE Minister extended his support to facilitate business engagements between Korean companies and the Karnataka government, underscoring the mutual benefits of these strategic partnerships.

The delegation also had strategic discussions with Lee Seong Woo, Vice President of the Korea Chamber of Commerce and Industries (KCCI). Discussions focused on KCCI's role in facilitating investments from Korean companies into other countries, highlighting Karnataka's potential as a prime investment destination due to its favorable policy ecosystem, infrastructure, and ease of doing business.

Patil invited DN Solutions, EMNI, and KCCI to participate in Karnataka's Global Investors Meet, Invest Karnataka 2025, to explore specific investment opportunities and strengthen industrial ties between Karnataka and South Korea.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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