CHENNAI: Tamil Nadu's efforts to attract global manufacturing investments have received a potential boost, with South Korean self-banking technology major Hyosung TNS considering a greenfield manufacturing facility in the state to produce automated teller machines (ATMs) for both domestic and international markets.
The proposal emerged during Industries Minister S Keerthana's visit to South Korea, where she met the leadership of Hyosung TNS, a global leader in self-service banking technologies, to discuss investment opportunities and potential collaborations in advanced manufacturing and technology sectors.
The move aligns with the Tamil Nadu government's strategy under Chief Minister C Joseph Vijay to strengthen the state's industrial ecosystem and attract high-value manufacturing projects linked to global supply chains.
According to the minister, discussions centred on the advantages offered by Tamil Nadu's manufacturing ecosystem, including its industrial infrastructure, skilled workforce and established supply chain network.
If realised, the project would mark Hyosung TNS's entry into manufacturing in Tamil Nadu and position the state as a production base for ATMs serving both the Indian market and export destinations.
The state government has assured the company of full support for the proposed investment and expressed confidence that the project would contribute to job creation, technology transfer and the expansion of Tamil Nadu's advanced manufacturing footprint.