Home / Knowledge / News / Textiles / Setting up of textile plant to bridge regional economies
Setting up of textile plant to bridge regional economies
Jun '08
A textile plant emerging from the cross border venture between two enterprises, each belonging to North and South Korea, is expected to commence operation by around August this year in Pyongyang.

The plant is a 50-50 joint venture between Andong Daema and a trading company under National Economic Cooperation Federation. The latter has also played an important role in initiating cooperative measures with South Korea.

Local sources have confirmed that already 34 containers carrying weaving equipment and other machinery for producing textiles have been sent by road to the capital city of North Korea.

On the completion of the construction for the plant, 25 executives and engineers will stay in North Korean capital with the aim to run operations and train workers.

Textile industrialists in particular are hopeful that this move will help enhance cross-border economic cooperation and in turn improve bilateral trade between the two regions.

The joint venture is estimated to have net assets of US $30 million of which $15 million will be invested by Andong in form of cash while the North Korean side will provide raw materials, land and infrastructural facilities for the plant.

The plan for establishment of five new facilities in the industrial zone of Pyongyang is still in the pipe line and some other existing manufacturing facilities are also expected to get started after restoration.

Besides, some 1,8000 North Korean workers would also be employed for manufacturing socks, towels, blankets, clothing fabrics and silk for shipment to South Korea.

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Madhu Jain
Madhu Jain

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

February 2017

February 2017

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


Browse Our Archives


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