Bangladesh and Korea will jointly manufacture LED electronics goods from January next year in the country.

To this end, a memorandum of understanding (Mou) was signed between the Korean WAO SUN-E LED Company Limited and Sumit Technopolish Limited on Thursday at a hotel in the capital.

ASM Shamsuddoha Chowdhury, managing director of WAO SUN-E LED Company Ltd, and Abu Reza Khan, managing director of Sumit Technopolish Ltd, signed the MoU on behalf of the respective companies.

State Minister for Information Communication and Technology (ICT) Zunayed Ahmed Palak attended the programme as the chief guest.

The function was also attended, among others, by Advisors of the Wao group Lt Gen (retd) ATM Jahirul Islam and M Mahmud Hossen, Chief Executive Officer (CEO) Nasiruddin Mahmud and company President Lim Hung Sue.

Under the MoU, the Sumit Technopolish Ltd has allocated 2.75 acres of land for establishing a factory of the WAO group at Bangabandhu High-tech Park.

Bangladesh and Korea will jointly start the LED electronics goods production in the country through the WAO SUNE LED CO LTD from January 1 in 2018, with an investment of Tk 280 crore.