Youngone Corporation, South Korean textile and footwear manufacturer, disclosed it aims to invest in the textile industry of Ethiopia.

The corporation’s Chairman. Kihak Sung, expressed its desires after holding talks with Ethiopian Prime Minister, Hailemariam Dessalegn. He explained to reporters, after the meeting, Youngone is ready to invest in apparel and textile manufacturing industries as quickly as possible.

The corporation wished to invest hugely in Ethiopia for its sees textile as its gateway to Ethiopia’s market, he added.

Speaking on his part Ethiopia’s Ambassador to South Korea, Shiferaw Jarso, said the company had made feasibility studies in Bole Lemi as well as Adama industrial parks. Youngone may lure other South Korean textile manufacturers to Ethiopia, he added.

Source: Ethiopian News Agency