Home / Knowledge / News / Apparel/Garments / Remove obstacles to Korean EPZ: Sung tells Bangladesh govt
Remove obstacles to Korean EPZ: Sung tells Bangladesh govt
25
Jun '13
Mr. Kihak Sung, chairman of Korean clothing firm Youngone Corporation, has urged the Bangladesh Government to quickly remove the obstacles for full-scale functioning of the Korean Export Processing Zone (KEPZ) that has been set up on 2,492 acres of land in Chittagong.
 
Speaking to media persons in Dhaka, Mr. Sung, who is also the chairman of KEPZ, asked the Government to quickly execute the deed of transfers of the entire KEPZ lands.
 
Secondly, Mr. Sung sought the permission to allow all types of industries, including garment units, to function in the KEPZ.
 
Mr. Sung also urged the Government to allow KEPZ to lease out lands to other factories and early restoration of power supply.
 
He will be attending a meeting of the board of governors of the private EPZ, scheduled to be held on June 26 in Dhaka, and explain the reasons for operations not being in full swing at the KEPZ.
 
The Government issued operational license to KEPZ in 2007, but the land transfer deed is yet to be executed, according to Mr. Sung.
 
Youngone Corporation has operations in Bangladesh, China and Vietnam and the company annually exports over US$ 1 billion worth of products from these three countries.
 
In Bangladesh, the Korean firm employs nearly 50,000 workers in its 17 production units, mainly garment factories, in Dhaka and Chittagong EPZs.
 
The company plans to set up units for manufacturing of textiles and apparels, along with many other industries, in the KEPZ.
 
Once the KEPZ becomes fully operational by first quarter of 2014, it is expected to generate about 40,000 new employment opportunities, Mr. Sung said.
 
He also informed that Youngone Corporation would set up a Tk 15 million fund for improving fire and building safety in Bangladesh’s garment sector.
 

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

Digital technology to accelerate Indian business growth

Indian business will benefit much by going digital, according to a...

Textiles | On 27th Mar 2017

Raymond to buy 98,000 metres khadi fabric from KVIC

Raymond, leading Indian fashion retailer, has ordered 98,000 metres...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


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