Embassy of the Republic of Korea in Nepal

 The Ambassador of the Republic of Korea, Mr. Park Taeyoung, attended the inauguration ceremony of the "Laxmi Motor Corporation Hyundai Assembly Plant" held in Nawalparasi District, on May 10.

In his congratulatory speech, Ambassador Park stated that with the completion of the assembly plant, Nepal's first "Made in Nepal" car would be produced. He anticipated that this would contribute to Nepal's economic development, create a technological innovation environment, and generate jobs. He also expressed hope that the plant would serve as a symbol of economic cooperation between the two countries, especially as Korea and Nepal celebrate the 50th anniversary of diplomatic relations.

The Prime Minister of Nepal, Rt. Hon. Pushpa Kamal Dahal, who attended the ceremony, highlighted the Nepalese government's efforts to attract foreign investment and promote the manufacturing sector. He expected the Hyundai assembly plant to increase foreign investment, advance the manufacturing industry, and create jobs in Nepal. Additionally, Kim Unsoo, Managing Director/CEO of Hyundai Motor India Limited, mentioned plans to expand the plant and diversify production models, requesting support from the Nepalese government, including tax incentives.

The prominent Nepalese company Laxmi Group, in collaboration with Hyundai Motor, established the assembly plant in Nawalparasi District, Lumbini Province, with an annual production capacity of approximately 5,000 units. While Nepal is aiming to attract foreign investment and promote its manufacturing industry, this marks the beginning of automobile production in Nepal, representing a significant case of economic cooperation between Korea and Nepal.

※ Media Coverage :

- https://myrepublica.nagariknetwork.com/news/hyundai-launches-first-made-in-nepal-vehicle-assembly-plant-in-nawalparasi/

- https://risingnepaldaily.com/news/42765