South Korean investors are poised to make substantial investments in Bangladesh, following the interim government’s recent initiatives to foster a more favourable climate for foreign investment.

This development was revealed during a meeting between a delegation of South Korean business leaders and Chief Adviser Professor Muhammad Yunus, held at the State Guest House Jamuna in Dhaka. 

The delegation was led by Kihak Sung, Chairman of Youngone Corporation, and included high-level officials from major Korean companies such as LG, along with leaders from the textile, fashion, energy, logistics, healthcare, and renewable sectors.

On Monday, the group visited the Korean Export Processing Zone (KEPZ) in Chattogram, where several companies pledged immediate investments in the industrial park, managed by Youngone Corporation.

At the meeting, Prof Yunus emphasized the government's ongoing reforms to improve Bangladesh’s business environment, citing changes in labour laws, industrial policy, and investment procedures. 

“We are building a new Bangladesh where foreign investment is seamless and efficient,” he said, assuring the delegation of full support.

Kihak Sung, who has been investing in Bangladesh since the 1990s, commended the government's pro-business direction. 

He announced plans to establish a textile and fashion college in Chattogram to help develop local talent and strengthen Bangladesh’s position as a global textile hub.

The delegation also expressed interest in sourcing garments from Bangladesh and investing in its growing pharmaceutical industry, with one investor showing interest in setting up an API (Active Pharmaceutical Ingredient) plant.

The Chief Adviser encouraged Korean investors to contribute meaningfully to the country’s development, saying, “Make Bangladesh your destination and your inspiration.”

Senior officials, including BIDA Chairman Chowdhury Ashik Mahmud Bin Harun and SDG Coordinator Lamiya Morshed, also attended the meeting, reaffirming the government’s commitment to facilitating foreign investment.

BDST: 1815 HRS, April 8, 2025
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