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RMG giant Youngone's chief made president of int’l textile body

Published : Sunday, 9 September, 2018 at 6:07 PM  Count : 379

New global business order and Bangladesh.jpg

New global business order and Bangladesh.jpg

Youngone Corporation Chairman Kihak Sung has been made President of the International Textile Manufacturer's Federation (ITMF) for the 2018-20 term.

He assumed the presidency at a glittering gala dinner at the National Museum in Nairobi, Kenya, said a press release, reports UNB.

The ITMF Conference, the biggest gathering of international textile manufacturers from all over the world, was held in Nairobi this time.

Over 300 textile luminaries attended the conference, which was inaugurated on September 7 and concluded on September 9, 2018.

The ITMF is among one of the oldest non-governmental organisations founded in 1904 with its headquarters in Zurich, Switzerland.

"This indeed is not only a great honour for Korea but also for Bangladesh and its 80,000 workforce," said the release.

Kihak Sung's meteoric rise in the textile arena is associated with the success of Youngone Corporation, over the years, as a pioneering investor in RMG and textile sector FDI which led investments both in Chattogram and Dhaka EPZs and lately in Korean EPZ.

Youngone was the first investor in the textile and apparel export sector in May 1980 and has been a pioneer in female employment in the industry.

Almost all other subsequent investors from Korea followed in Youngone's footstep to invest in Bangladesh.

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