‘South Korean companies here should look beyond RMG’

Bangladesh and South Korea believe that companies of the latter which are operating here should look beyond readymade garments (RMG) and promote diversification of industries. 

The consensus was reached when South Korean Ambassador to Bangladesh Lee Jang-keun met with Maj Gen Md Nazrul Islam, executive chairman of Bangladesh Export Processing Zones Authority (Bepza), yesterday.

They noted that South Korean companies have greatly contributed to developing Bangladesh's RMG industry since the 1970s, said a press statement of the embassy.

There are some 70 Korean companies in operation here employing over 60,000 Bangladeshis, making a cumulative investment of around $900 million.

They agreed to work together to invite more investment from South Korea to take advantage of Bangladesh's abundant workforce and promising business opportunities.

Islam assured that Bepza would continue to enhance a business-friendly environment and put in utmost efforts to support and fulfill the needs of South Korean investors.

Korea Trade-Investment Promotion Agency Trade Representative Dong Hyon Kim was present.