Korea’s Hwaseung footwear to invest Rs 898 cr in Kuppam

Vijayawada: In a major boost to Andhra Pradesh’s manufacturing sector, Hwaseung Footwear, a leading South Korean footwear manufacturer and one of the world’s largest OEM suppliers for Adidas and other global brands, proposed a Rs898 crore investment in a state-of-the-art non-leather footwear manufacturing facility in Kuppam in Chittoor district.

The greenfield project, approved by the State Investment Promotion Board (SIPB), will be developed across a 100-acre industrial campus at Pogurupalle, Gudupalle Mandal, making Kuppam one of India’s emerging hubs for global footwear manufacturing.

The Korean giant’s entry into Andhra Pradesh will be transformative for the region, with the unit expected to generate nearly 17,645 direct jobs, significantly boosting economic activity and livelihoods in Kuppam and surrounding areas. According to the approved proposal, Hwaseung will implement the project in three phases. Phase I will see an investment of Rs308.92 crore followed by phase II Rs298.44 crore and phase III Rs291.53 crore.

To ensure rapid development of the project in Kuppam, Andhra Pradesh Government has approved a tailored incentive package, including, investment subsidy of 30 per cent, capped at Rs299 crore, employment subsidy, local procurement subsidy, power tariff reimbursement for 10 years, 100 per cent exemption on stamp duty & registration fees, decarbonisation subsidy for green manufacturing initiatives. The State Government has committed full support for land allotment, infrastructure development.