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

Textiles | On 30th May 2017

Russian regions driving forward light industry & fashion

Russian regions, especially Ivanovo and St. Petersburg, are turning...

Courtesy: Dollar Industries

Apparel/Garments | On 30th May 2017

Dollar Industries registers Rs 906 cr turnover in FY17

Hosiery major Dollar Industries Limited registered a turnover of Rs...

Courtesy: Pan Brothers

Apparel/Garments | On 30th May 2017

Pan Brothers to set up 2 new garment factories

PT Pan Brothers Tbk plans to increase its production capacity by...

Interviews View All

Manuj Terapanthi

Transparent supply chain and fair trade will boost sustainable market

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Giorgio Mantovani
Corman S.p.A

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

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

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search