Chennai: Tamil Nadu BJP leader K. Annamalai has accused Chief Minister MK Stalin and his Industries Minister TRB Raja of negligence as a leading investment , that could have created around 20,000 direct jobs in the state has moved to neighbouring Andhra Pradesh.
“While TN CM Thiru @mkstalin avl and his Industries Minister are in deep slumber, the investments that they proudly announced are moving to neighbouring states. The TN Industries Minister announced that the South Korean company Hwaseung has committed an investment of ₹1720 crore to establish a large-scale non-leather footwear manufacturing facility, which will generate 20,000 direct jobs,” he posted on X.
While TN CM Thiru @mkstalin avl and his Industries Minister are in deep slumber, the investments that they proudly announced are moving to neighbouring states. The TN Industries Minister announced that the South Korean company Hwaseung has committed an investment of ₹1720 crore… pic.twitter.com/7iEn9wdeV1
— K.Annamalai (@annamalai_k) November 15, 2025
South Korean footwear manufacturer Hwaseung Footwear Group was expected to invest around ₹1,720 crore to establish its first non-leather footwear manufacturing unit in India. The new facility was planned for Tuticorin and Gangaikondan in Tirunleveli district, for which the company signed an MoU with the Tamil Nadu government in August.
However, the company has now decided to go ahead with investing in Andhra Pradesh.
“We worked closely with Guidance in Tamil Nadu and Economic Development Board (EDB) in Andhra Pradesh and after our long review, we felt Andhra Pradesh is the right place to come,” Bob Shorrock, CEO of Hwaseung’s footwear division, told ET.
Andhra Pradesh has already allotted 100 acres of land in two villages in Kuppam.
The interstate competition for foreign investment has repeated helped foreign investors get favourable deals, and governments have had to go to great lengths to attract investments to their states. This time Chandrababu Naidu has won the race, with the BJP getting fresh ammunition to target the state government. With Tamil Nadu slated to go to elections next year, the DMK government cannot afford to lose investments like this, their response to Annamalai’s allegations will be keenly awaited.
