Korean RMG manufacturing giant, Youngone Group, targets for $440 million dollar exports from Bangladesh
Korean manufacturing giant in Bangladesh, Youngone Group, has set its target exports to 10% higher than last year at $440 million. The group registered a turnover of $1.2 billion last year with exports worth $400 million last year.
The Youngone is one of the largest readymade manufacturers in Bangladesh owned by the Koreans, situated at the Korean Export Processing Zone, KEPZ. It has registered a consistent growth of about 15% per annum and has set its target conservatively for this year. The company plans to expand its operations due to rising demand.
However, all has not been a bed of roses for the company. The government has failed to provide gas facilities and hence feels that the Korean EPZ will have to utilize its own facilities to commence operations. Also extensive labour problems has severely hampered the production activities in all of its 17 units of operations in the Chittagong Export Processing Zone, CEPZ, and was forced to halt production completely in all of these units on Dec 12 and 13.
The problem is thankfully over now and the Youngone are looking forward to a good year. With a rising demand and a 10% growth, the company remains as one of the major manufacturers of the country.
