Until the end of 2018, Uzbekistan intends to supply textile products worth $ 70 million to South Korea.
Agreements on this were achieved during the negotiations of the delegation of Uzbek yen gil san oat with the heads of major Korean trading companies Posco Daewoo, Color Paradise, Solsang International Corp, Ratel E &T Co ., Ltd, Korea Factory, and Lotte Mart.
Korean businessmen especially liked the dyed and mélange yarn, terry and hosiery of the group of companies Uztex, Osborne Textile, as well as knitted and denim products of Uzbek brands Bofanda and Bonito.
At a meeting with the leadership of the Korean International Trade Association KITA and the national electronic trading platform KTNET, agreements were reached on joint activities to promote Uzbek textile products in Korea through 2017-2018 through the electronic trading platform KOREA Trade, providing services through representations of Uzbek companies in Korea or Korean importers and transport companies for customs clearance electronically online.
It should be reminded that since the beginning of the year, various textile semifinished products and other products were exported to the Korean market for
$ 23.4 million. Also this year, a successful supply of knitwear products to Lotte Mart retail chains, dyed and mélange yarn for Korean manufacturers of socks and knitted goods started.
In addition, one of the world's largest manufacturers of branded textile products - South Korean Youngone Corporation - plans to build a new plant in the Buka district of the Tashkent region.
The South Korean company organizes dyeing and sewing production in the Buka district, sewing production with a design and training center in Samarkand, and also implements a social project to support the activities of the El Merosi cultural center in Samarkand. The total amount of foreign direct investment by Youngone Corporation will exceed $ 20 million.
We note that today the annual turnover of Youngone Corporation is $ 2 billion, and the company's production facilities are located in Bangladesh, Vietnam, China and San Salvador.