Opposition slams DMK over Korean firm shifting investment to Andhra Pradesh

CHENNAI: Following reports that Hwaseung Enterprises, the South Korean footwear maker, has decided to shift its new investment originally planned for Tamil Nadu to Andhra Pradesh now, the key opposition parties of AIADMK and the BJP attacked the ruling DMK for its alleged failure to attract investments and “driving out” investors to other states.

AIADMK general secretary and Leader of the Opposition Edappadi K. Palaniswami said the company’s move was a “humiliating reflection of the DMK government’s failed industrial strategy.”

He claimed that despite Chief Minister M.K. Stalin’s foreign trips and high-profile investor summits, the State had not secured tangible results. “This industrial exodus is happening only under Stalin’s rule,” he alleged.

He further demanded a detailed inquiry into the factors behind industries backing out, alleging corrupt regulatory practices, widespread demands for commissions, poor workplace safety for women, and an “ornamental cabinet of paper ministers.”

He alleged that Hwaseung’s exit was not an isolated case, and contended that investments from Foxconn, Amara Raja Batteries, Lenskart, and Ather Energy have also recently chosen other States.