South Korea Invests $8.6 Million for Manufacturing Shoe Accessories

With an investment of $8.62 million, the South Korean business Dongwoo BD Ltd plans to establish a manufacturing enterprise for shoe accessories in BEPZA Economic Zone (EZ). 

According to a press release, the Bangladesh Export Processing Zones Authority (BEPZA) and the firm inked an agreement to this effect on August 10 at the BEPZA Complex in Dhaka.

The agreement was signed on behalf of their respective companies by Kim Dong Kyu, chairman of Dongwoo BD Ltd., and Ali Reza Mazid, member (Investment Promotion) of BEPZA. 

Major General Abul Kalam Mohammad Ziaur Rahman, the executive chairman of BEPZA, attended the signing ceremony as well.

According to the press release, this wholly foreign-owned business would offer jobs to 513 Bangladeshi citizens and produce 3.6 million meters of PU Synthetic Leather per year. 

Mohammad Faruque Alam, a member of the engineering department, Executive Director Nazma Binte Alamgir, Executive Director Md Tanvir Hossain, and Executive Director Md Khorshid Alam were also present at the signing ceremony.