South Korean company will build textile raw material factory in Vietnam
South Korea’s Kyungbang will build a yarn and textile raw material factory in Binh Duong Province, Vietnam. This company signed a treaty with Becamex Industrial and Development Company in the province on March 31. It plans to lease 50 hectares of land in the BauBang Industrial Zone and invest USD 160 million to build a new factory. The project will be divided into four phases, with an investment of USD 40 million in the first phase. The factory building will start in 2008 and is scheduled to be completed in 2009. Kyungbang was founded in 1919 and is one of the major companies producing yarn and textile materials in Korea.