South Korean company to invest $80m in Bepza EZ

A South Korean company, Park Handbag BD Ltd, is expected to establish a large-scale bag, luggage, and high-end garment manufacturing facility at the Bepza Economic Zone in Chattogram’s Mirsharai.

The proposed investment amounts to $80 million, according to an agreement signed between the Bangladesh Export Processing Zones Authority (Bepza) and the company at the Bepza Complex in Dhaka, a statement from Bepza said.

Md Tanvir Hossain, executive director for investment promotion at Bepza, and Beomjoon Park, chairman of Park Handbag BD Ltd, signed the deal, with Major General Mohammad Moazzem Hossain, Bepza executive chairman, also present.

Under the agreement, Park Handbag will develop the project on 57,600 square metres of land to manufacture handbags, backpacks, luggage, and a wide range of knit and woven garments, including polo shirts, T-shirts, padded and down jackets, trousers, sportswear, and undergarments.

Once fully operational, the project is expected to create employment opportunities for 10,960 Bangladeshi nationals. The products will be exported to major global markets, including the USA, UK, European Union, South America, and Asia.