Home / Knowledge / News / Textiles / South Korean firm to set up textile plant in Costa Rica
South Korean firm to set up textile plant in Costa Rica
Jun '14
South Korean company SAE-A Spinning is setting up a cotton yarn manufacturing plant in Costa Rican province of Cartago, the Costa Rican Investment Promotion Agency (CINDE) has announced, reports The Tico Times.
The new venture to come up at a cost of US$ 50 million will create 200 new direct jobs for local workers, CINDE said in a press release.
SAE-A Spinning has already begun construction work in Coris, west of Cartago, some 22 kilometers east from the capital San José.
Once fully operational by the first quarter of 2015, the Costa Rican plant will export cotton yarn to clothing factories in several countries in the Americas, CINDE said.
SAE-A Spinning president Kwang Ho Yoo said the investment in Costa Rica is part of the company’s long-term vision with a growth plan for the next 30 years. Ho Yoo added that the company will consider expanding operations with a second investment in Costa Rica if the textile plant becomes profitable and achieves expected success.
The announcement by the Korean company to invest in Costa Rican textile sector has come less than two months after the Canadian company Gildan Activewear confirmed that its next investment will be made in Guanacaste, Costa Rica, involving a modern textile manufacturing plant.
The announcement by the two companies in recent months to invest in Costa Rica is a proof that Costa Rica offers suitable conditions to host businesses in the textile industry, said CINDE’s General Director Gabriela Llobet.
Being part of CAFTA-DR, Costa Rica enjoys privileged access to the US market, which is one of the reasons that attract companies to invest in the country.
SAE-A Spinning currently has 17 subsidiaries in the US, Guatemala, Nicaragua, Haiti, Vietnam, Indonesia and Cambodia, and last year the company grossed global sales revenue of more than $1.4 billion.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Igor Chapurin

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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