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Korean firm – Youngone aims at higher exports
22
Mar '11
Youngone Group, a Korea-based garment manufacturer with operations in Bangladesh, has fixed the export target for the current year at $440 million, which is 10 percent higher than last year's exports.

The Group last year exported goods worth over $400 million from its Bangladesh operations, while its overall turnover came to $1.2 billion.

For last several years, the company has been registering a steady growth of around 10 to 15 percent. This year though the company's growth may not be as high as 15 percent but is expected to be slightly higher than 10 percent.

Also, owing to the rise in demand, the company is expanding its operations this year. But then, considering that the government has not been able to provide any gas connections, Youngone expects that the Korean Export Processing Zone would have to utilize its own strengths to commence operations. The constructing of the EPZ was undertaken in 2000 on a 2,700 acres plot.

Extensive labour strife in December last year, greatly impeded the production activities in all the 17 units of the company in the Chittagong Export Processing Zone. The company was even required to totally suspend the production work at all these units on December 12 and 13.

However, now the situation has resumed to normal and all units in Dhaka and Chittagong are operating properly.

Fibre2fashion News Desk - India

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