South Korea's Boyoung to invest ₹245 cr in footwear components unit in Annamayya district

Nishant Kumar joins Boyoung Company delegation to inspect the Tatiguntapalli Industrial Park for the proposed project; says discussions with the company representatives look encouraging

Published - July 29, 2026 07:25 pm IST - MADANAPALLE By The Hindu Bureau

District Collector Nishant Kumar has stated that a ₹245-crore export-oriented footwear components manufacturing unit, proposed by South Korea-based Boyoung Company, is set to boost industrial growth and employment opportunities in Annamayya district.

Speaking to the media on Wednesday, the Collector said that discussions with the company representatives appeared encouraging. “The district administration has assured them of full support in facilitating investments, including land allotment, statutory clearances and inter-departmental coordination,” he added.

Earlier, the Collector joined the delegation to inspect the Tatiguntapalli Industrial Park in Valmikipuram mandal, the proposed site for the project. The investment, being planned in collaboration with SKI Corp Group, will be implemented in three phases. The unit will manufacture shoelaces, webbings, and other footwear accessories for supply to leading international brands.

Company representatives informed the Collector that nearly 40 acres would be required in the initial phase, with provisions for future expansion. They expressed satisfaction with the industrial park’s infrastructure and its potential for large-scale industrial development.

Highlighting Annamayya district’s strategic location, Mr. Nishant Kumar noted that the plant site offers excellent highway connectivity, availability of a skilled workforce, access to power and water, and government incentives — key advantages for investors.