The city is gradually turning out to be a hub for Korean electronics companies. After LG and Samsung, two more Korean electronics companies — Dreamtech India Pvt Ltd and Starion India Pvt Ltd — have bought 40 acres of land between them in Sector Ecotech 10 for setting up plants with investments worth Rs 433 crore that would generate jobs for over 3,500 youths.
Previously five Korean companies, mostly manufacturers of mobile phones and accessories, have bought about 87 acres of land in Greater Noida, promising to invest over Rs 1,150 crore and create job opportunities for over 8,700 youths. One of the reasons for Korean interest in the region is GNIDA’s policy of allotting land within 30 days of applications under its ‘ease of doing business’ policy, officials have said. Apart from LG and Samsung, the other three Korean companies that have already purchased land in sectors Ecotech 1 extension, Ecotech 6, and Ecotech 10 are Senatech India Pvt Ltd, KH Vatech India, and Samkwag India Electronics Pvt Ltd.
Deep Chandra, the additional CEO of GNIDA, said, “Earlier Chinese manufacturers like Oppo and Haier had set up plants in Greater Noida. The city is now fast emerging as a stronghold for Korean electronics companies”
According to Chandra, the five big Korean companies that have already bought land are expected to start their operations “very soon”. “Most of these Korean companies are in the electronics sector. Together, these five companies are expected to invest about Rs 1,154 crore in the region with job opportunities for about 8,700 people.”
The ACEO, who met the representatives of Dreamtech India Pvt Ltd and Starion India Pvt Ltd on Monday, said, “At the meeting, we assured the delegation of all necessary help in setting up their businesses.”
CEO Narendra Bhooshan said that GNIDA is promoting industries under the ‘ease of doing business’ policy. “There is an emphasis on bringing industries to the city for which we are continuously planning to make land available. The land is allotted within 30 days of the application under the policy promoted by the state government,”
