UP Investor Summit: Korean Mystery
It has become commonplace now at investor summits for CEOS to line up, and announces lakhs or crores of MoU's or memorandums of understanding. It was in the same spirit at the recently concluded UP Investor Summit in Lucknow hosted by the Yogi Adityanath government, which drew in some of the biggest names of Indian business, all of whom pledged crores of rupees worth projects by the end of it. The chief minister tweeted over Rs 4 lakh crore projects were pledged. Except one name stood out - the focus of tonight's show - of a little known Korean company called Worldbestech.The company was reported as having pledged Rs 90,000 crore in Uttar Pradesh that is around 20% of the total MoU's signed during the UP summit. Its website describes it as a Seoul-based company specialising in cooling systems used in rooftops of factories. Interestingly its Annual Revenue of between $1,000,000-2,000,000 that is between Rs 6.5 to 13 crore. Tonight on Reality Check we discuss the mega pledge by the mystery firm.
