South Korean investors are preparing to launch a new wave of major investments in Bangladesh, signaling renewed global confidence in the country’s economic direction under the interim government led by Chief Adviser Professor Muhammad Yunus.
The development was announced following a high-level meeting between Chief Adviser Prof Yunus and a visiting delegation of South Korean investors at the State Guest House Jamuna on Tuesday.
The delegation was led by Kihak Sung, Chairman of Youngone Corporation, and included senior representatives from major Korean firms, including LG and others involved in textiles, fashion, logistics, healthcare, energy, and renewables.
On Monday, the investors visited the Korean Export Processing Zone (KEPZ) in Anwara, Chittagong—Bangladesh's largest privately owned industrial park developed and managed by Youngone Corporation—where several delegates committed to immediate investments.
During the meeting today, Chief Adviser Prof Yunus highlighted the government’s commitment to reforms aimed at improving the business environment in Bangladesh, including significant changes to labour, industrial, energy, and investment policies.
“We are delighted that you are visiting Bangladesh at a time when we are building a new Bangladesh,” he said.
Prof Yunus said: “In this new Bangladesh, we have made foreign investment easy and hassle-free.”
He continued, “Our job is to make it smooth for you. I know you have undergone some tough times over the past 16 years, and we want to make up for lost time.”
Kihak Sung, who first came to Bangladesh in the mid-1990s, echoed the Chief Adviser’s remarks, praising the interim government’s pro-business stance and policies that have improved the overall business climate in the country.
The Chief Adviser encouraged foreign investors to positively impact the lives of the Bangladeshi people through their investments, adding, “Make Bangladesh your business destination and your source of inspiration. You have the potential to inspire tens of millions of people.”
Kihak Sung also announced that his company, Youngone Corporation, would establish a textile and fashion college in Chittagong within the next few months to create a talent pool that could help transform Bangladesh into the world’s leading textile hub.
He further praised the Chief Adviser’s recent letter to US President Donald Trump regarding tariffs, noting that it addressed the concerns caused by the new American administration.
“It was a well-written letter,” Sung said, adding that he has advised the garment industry not to get panic over potential US measures.
Representatives from the Korean fashion and retail industry indicated plans to purchase clothing from Bangladesh, noting the country’s unique supply chain integration.
The Bangladeshi pharmaceutical sector is also growing rapidly, and the country has the potential to become a leading exporter of medicines in the evolving global trade landscape. One investor expressed interest in establishing an API (active pharmaceutical ingredient) plant in Bangladesh.
Additionally, Prof Yunus suggested to a top Korean surgeon, a member of the delegation, that he set up a hospital in Chittagong.
BIDA Executive Chairman Chowdhury Ashik Mahmud Bin Harun and SDG Coordinator Lamiya Morshed also participated in the meeting, underscoring the government’s ongoing commitment to facilitating foreign investment in Bangladesh.
