Home / Knowledge / News / Textiles / Nakoda unmoved by situation in Korea – CMD
Nakoda unmoved by situation in Korea – CMD
30
Nov '10
The tremors of artillery shelling by North Korean troops on a South Korean held island were felt across the globe and in India too. The biggest fear among the countries that have business interests in the region is of these sporadic incidents, turning in to a full scale war between the two countries.

Mr BG Jain led, Nakoda Limited is one such Indian textile entity which has invested and acquired a polyester plant in 2009 in Kyunghan in South Korea for $40 million. The plant which has a capacity of 100,000 tons / annum is located 300 km from Seoul and employs around 200 people.

However, when fibre2fashion spoke to Mr BG Jain, he did not seem overtly concerned about the developments. “Nothing big has happened and now the Korean market has also recovered. Our business is not at all affected and the plant is functioning as normal”, he said.

Giving details about capacity of the South Korean plant, he said, “Polymerisation capacity of the plant is 300 / tons per day, out of which FDY output is 150 tons / day, POY capacity is 100 tons / day and the rest 50 tons / day is accounted for by polyester chips”

When asked for their response in case the situation aggravates, he informed by saying. “First of all, we do not expect the situation to aggravate and secondly we are catering to the South Korean domestic market only, with exports making up for a small volume and thirdly, we are fully insured against all risks”.

Speaking about the investment climate in South Korea, he noted with satisfaction that since they had invested in the country, the treatment they received was at par with diplomatic status and had received full support from the government when they were contemplating investing in South Korea.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Marcel Alberts
Eurofibers

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Karan Arora
Karan Arora

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

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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