KyungBang Vietnam Co.Ltd. under South Korea-based KyungBang Corporation specializing in yarn production for the garment and textile line has just inaugurated its factory in Ben Cat district in the southern province of Binh Duong. According to CEO of South Korean-based KyungBang Corporation, this will be a high-quality cotton yarn factory and it will continue being expanded in the coming time.

Covering 16 hectares in the Bau Bang Industrial Park, the factory has a total investment capital of US$40mln for the first phase with the production capacity of 6,600 tons of yarn annually. It includes 62,800 sq.m for workshop and 28,000 sq.m for other works.

According to Lee Kap Soo, CEO of the KyungBang Vietnam, the factory has 25,920 spindles and is equipped with spinning machines supplied by Swiss’s Rieter and Germany’s Schlafhorst. Possibly speaking, this is the most modern yarn factory in Vietnam. 

Yarn production at KyungBang Vietnam Co.Ltd.’s factory

Garment and textile industry is one of Vietnam’s key export industries. Currently, garment and textile products hold an important position in the bilateral trade fields between Vietnam and South Korea. Vietnamese-made garment and textile products account for around US$1.7bln of South Korea’s annual import value. Moreover, this industry needs a large number of laborers, so it is of great significance for Vietnam. Hence, the birth of KyuangBang Vietnam will create favorable conditions for Vietnam to export high-class garment and textile products to many different countries in the world. The factory will also contribute to increasing the localization ratio for garment and textile industry.

To Kim Joon, CEO of South Korea-based KyungBang Corporation, Vietnam is a newly emerging market and Binh Duong is one of Vietnam’s localities with strong growth. Under the current development, KyungBang has decided to select Vietnam for investment.  This is a timely and proper decision.

Provincial People’s Committee Vice-Chairman Tran Thanh Liem has spoken highly of KyungBang’s ability while saying that the corporation’s business scope is very suitable to the province’s policy calling for investment to promote auxiliary industries, contributing to developing garment and textile industry of Vietnam in general and Binh Duong in particular. KyungBang’s investment in the Bau Bang Industrial Park with infrastructure invested in a synchronous way and favorable connection is a right decision.

Also according to Mr.Liem, authorities at all levels will always create favorable conditions for investors in Binh Duong in general and KyungBang Vietnam Co.Ltd. in particular to take fruits in production and business.

Reported by Trong Minh-Translated by K.T