Home / Knowledge / News / Apparel/Garments / Myanmar & South Korea JV to set up 500-acre garment facility
Myanmar & South Korea JV to set up 500-acre garment facility
Aug '16
Myanmar based Olympus Asia Group and South Korea's Panko Corporation have entered in to an equal joint venture partnership to set up a garment factory on 500 acres of land.

“The joint venture which will be a free-on-board (FOB) garment facility is seeking land for setting up the factory in Yangon, Bago or Ayeywarwady regions,” Myanmar media reported.

Most of Myanmar's apparel units operate under the cut-make-pack (CMP) model, under which, a financially and technically sound foreign buyer, contracts out work to a garment factory.

However, under the more profitable FOB model, foreign buyers place orders with well-financed garment factories, which also have the technical expertise.

The construction to build the infrastructure will start within a year, with commercial production expected to start three years after that.

The project will include a global standard wastewater treatment plant; dormitories for workers and will also generate its own electricity.

Olympus Asia Group CEO Okkar Zaw Naing said the whole project will create between 40,000 to 60,000 direct and indirect job opportunities. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala

Moving towards sustainability is also a social change

Sonia Agarwal

‘The terms eco-friendly and organic are common but everyone perceives them ...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search