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Andhra Pradesh IT Minister Nara Lokesh, during his visit to South Korea, invited BNK Venture Capital to support startups and SMEs in the state through investment mentoring, fund management and consulting expertise. He also encouraged BNK Financial Group to explore infrastructure financing opportunities and consider setting up a branch in Amaravati. The state further strengthened its investment outreach by inaugurating APEX Korea, a dedicated investor facilitation centre in Busan that will support Korean businesses looking to invest in Andhra Pradesh and assist existing investors.
Andhra Pradesh IT Minister Nara Lokesh, who is on an official visit to South Korea to attract investments into the state, invited BNK Venture Capital to mentor startups and small and medium enterprises (SMEs) by sharing its expertise in investments, fund management and consulting. The proposal was made during his meeting with senior representatives of BNK Financial Group and BNK Capital, according to an official release.
Lokesh also urged the financial group to explore opportunities in infrastructure financing for Andhra Pradesh's major development projects, including Amaravati, industrial parks and power infrastructure. He further requested BNK Financial Group to encourage its clients operating in sectors such as electronics, semiconductors, shipbuilding and energy to consider Andhra Pradesh as a preferred destination for investments and manufacturing.
Highlighting Amaravati's planned role as the state's financial hub, Lokesh invited BNK Financial Group to establish a branch in the greenfield capital city and become part of Andhra Pradesh's long-term development plans. The state government has been actively promoting Amaravati as a centre for finance, technology and administration while reviving infrastructure and institutional development in the capital region.
Responding to the proposals, Managing Director Lee Kwang Jun of BNK Financial Group and CEO Son Dae Jin of BNK Capital said the group's leadership would examine the Andhra Pradesh government's proposals before taking a decision. They also outlined BNK Financial Group's diversified financial services network, which includes Busan Bank, Kyongnam Bank and BNK Savings Bank, along with businesses in securities, capital, asset management, credit information, IT systems and venture capital.
BNK Financial Group operates 398 domestic branches across South Korea and 75 overseas outlets spanning China, India, Southeast Asia and Central Asia. The group manages consolidated assets of around USD 101.9 billion, equivalent to nearly INR 9.64 lakh crore, making it one of South Korea's three leading regional financial holding companies.
As part of the visit, Lokesh also inaugurated APEX Korea (Andhra Pradesh External Engagement – Korea), a dedicated investor facilitation and outreach centre established by the Andhra Pradesh Economic Development Board (APEDB) in Busan, South Korea's commercial hub.
The facility has been conceived by the NDA government in Andhra Pradesh as a permanent platform to strengthen investment partnerships with South Korea while providing dedicated support to Korean companies interested in investing in the state. Unlike conventional investment roadshows, the initiative aims to create a continuous institutional presence to engage with investors throughout the investment cycle.
Lokesh said APEX Korea would function as a bridge between the Andhra Pradesh government and Korean companies by facilitating investor engagement, offering end-to-end assistance to prospective investors, coordinating with government departments and strengthening long-term business partnerships between the two sides.
He added that the centre would also serve as an investor aftercare facility by extending continued support to Korean companies already operating in Andhra Pradesh. The initiative is expected to help resolve issues faster, improve coordination with government agencies and encourage the expansion of existing investments.
The Andhra Pradesh government has been intensifying its global investment outreach over the past year by engaging with international companies across manufacturing, electronics, renewable energy, technology and logistics. South Korea remains an important investment partner for India, particularly in sectors such as electronics, automobiles, shipbuilding and advanced manufacturing, making the new facilitation centre a strategic step in strengthening bilateral industrial cooperation.
Source PTI
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