Head of Government of Bangladesh and the Republic of Korea agreed on setting up of EPZs in the Private sector as one of the means to attract foreign investments. In pursuance of this decision, Youngone Corporation, a Seoul based company, applied formally to the Government of Bangladesh to set up an EPZ in the Private sector in the name of Korean EPZ(KEPZ) Corporation(BD) Ltd.
Following this, Act No. XX of 1996, namely, the Bangladesh Private Export Processing Zones Act,1996 was passed to provide a legal framework. Under the said Act the company was allowed to set up the Korean EPZ.
KEPZ is located on the south bank of the river Karnaphuli opposite to the Chittagong International Airport and close to the countryís major sea port at Chittagong. The second largest city of Bangladesh with a population of about 4.5 million is the home of a very sizeable number of diverse industries. The zone is 20KM away from the city.
Korean EPZ(KEPZ) Corporation(BD) Ltd., a subsidiary of Youngone Corporation is developing an eco friendly infrastructure in the zone and has undertaken to operate and manage it through a group of its qualified professional Executives.
36,Lake Drive Road
Sector#7 ,Uttara Model Town
Tel: +0443-501142, +880-31-740431-6
Fax: +0443-4493886, +880-31-740617
12 Geum Gwang-Dong, JingwonGu
Sungnam, Gyoungi, Seoul, Korea
Youngone Corporation, incorporated in Korea in 1974, operates in 12 countries of the world, namely USA, Mexico, Italy, Switzerland, El-Salvador, Korea, China, Thailand, Hong Kong, Vietnam and Bangladesh. This Corporation is a leading manufacturer of Outerwear, Sportswear, Backpack, Woven fabric, Non-woven polyester products, Dyeing and Finishing synthetic fabrics, Sport Shoes, & shoe accessories, besides being resin and poly bags retailer and exporter.
This Corporation established its first overseas operation in Chittagong city, Bangladesh in 1980 and moved its operation into the Chittagong Export Processing Zone (CEPZ) in 1988. Today the company employs more than 40000 local workforce in its 17 factories in the EPZs of Dhaka (DEPZ) and Chittagong (CEPZ). and supplies world class brand products all over the world.
Youngone Corporation is headed by its Chairman & CEO Mr. Kihak Sung.