Korean yarn company favours Vietnam - sportstextiles: Lea SportsTextiles

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Korean yarn company favours Vietnam

24/05/2013
South Korean firm KyungBang has commissioned a $40 million cotton factory as part of a wider plan to invest $140 million in Bau Bang Industrial Park in South Vietnam.

The Vietnam Bridge website reported that the company will import its cotton from the US, Brazil and Australia and is targeting yarn sales in the domestic market as well as overseas.

Its director, Lee Kap Soo, reportedly said he saw more value in Vietnam than in the rest of Asia. The company plans to expand production at the site fourfold over the coming years.

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