Home / Knowledge / News / Apparel/Garments / Youngone Corp to invest in Ethiopia's textile sector
Youngone Corp to invest in Ethiopia's textile sector
May '16
Youngone Corporation, a South Korea based textile and footwear manufacturer, is planning to invest in Ethiopia's textile sector.

Youngone is ready to engage in textile and apparel manufacturing in Ethiopia as quickly as possible, the company's chairman Kihak Sung told reporters after meeting prime minister Hailemariam Dessalgen in Addis Ababa, Ethiopian News Agency reported.

Sung said Youngone wants to invest hugely and make textiles its gateway to the Ethiopian market.

Youngone has already carried out feasibility studies in Bole Lemi and Adama industrial parks as part of its plan to invest in Ethiopian textile sector, according to Ethiopia's ambassador to South Korea, Shiferaw Jarso.

The announcement by Youngone comes soon after a visit by South Korean president Park Geun-hye's visit to the African country.

Currently, Ethiopian government is finalising a plan to set up a textile industrial complex for South Korean companies in the central Ethiopian city of Adama. To attract investment, the government is also considering a move to offer tax sops to South Korean textile companies.

By investing and producing finished goods in Ethiopia, South Korean companies can export them to the US and the EU without tariffs, which could give a competitive advantage. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 24th Oct 2016

German technology to help in energy saving in textiles

German technology can play a major role making the environment...

Textiles | On 24th Oct 2016

ACIMIT shows sustainable technologies at ITMA Asia

ACIMIT, the Association of Italian Textile Machinery Manufacturers,...

Courtesy: Trupik

Apparel/Garments | On 24th Oct 2016

Virtual 3D fitting rooms revolutionising online shopping

Virtual fitting rooms meant to bridge the gap between e-commerce...

Interviews View All

Nuno Venda

‘There has been an increase in demand for water based inks, rather than...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

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

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

October 2016

October 2016

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


Browse Our Archives


Advanced Search