The latest reports are indicating that the Kia Motors management is still trying to find land for shifting its factory from Anantapur in AP to a place nearer to Chennai Capital City. The South Korea trade agency, KOTRA, has termed the Kia incident as very unfortunate. Actually, everybody thought Kia issue was resolved after YCP Ministers promised to continue the incentives given by Chandrababu Naidu Regime. But, there is still lot of concern among the corporate companies over the Jagan law for 75 per cent jobs reservations for locals.
The latest statement by Kotra President Kim Moon confirmed the worst fears that no serious effort was made to give confidence to the Kia management for stopping its relocation efforts. Kia apparently is continuing its search for land in TN with the help of its sister concern, Hyundai, which already has its factory there.
Interestingly, Korea Trademarks agency expressed concern that if Kia shifts its factory, then it will have a serious impact on the overall South Korean future investments in India.