Korean Firm to Open Four Garment Factories in Central Vietnam

Korean Firm to Open Four Garment Factories in Central Vietnam

Korea's Youngone Group will inaugurate and put into operation four export garment factories in the Hoa Xa Industrial Zone in northern Nam Dinh province on May 12.

 This is a part of Youngone’s $53-million investment project in Vietnam.

The project has been carried out since 2004 and is expected for completion in 2007. Once completed, the project will have 16-20 factories on the area of 46 ha.

The firm invests in four main fields in the Hoa Xa Industrial Zone such as garment, footwear, dyeing and finishing services. It also produces garment subsidiary materials to support the domestic market.

The total employees that Youngone will use in such fields are estimated at 15,000 people. At present more than 4,000 laborers have been recruited.

Youngone’s factories are regarded as one of the largest garment projects in Vietnam.

Vietnam attracted 43 South Korean investment projects worth $74.8 million in the first four months of this year, raising the total number of South Korean projects in the country to 892 with aggregate registered investment of $4.86 billion.

Vietnam Economic Times