South Korea’s textile major Youngone will start its operations within six months at Kakatiya Mega Textile Park in Warangal, providing employment opportunities to 12,000 people in the region.
In a video conference with IT Minister K.T.Rama Rao and Panchayat Raj Minister Errabelli Dayakar Rao here on Thursday, Youngone Chairman and CEO Ki-Hak Sung reiterated their plan of making five of their factories functional in next six months and taking up another three later in Phase-II. Mr. Ki-Hak Sung told KTR that "Made in Telangana" textiles would be rolled out from Warangal’s Kakatiya Mega Textile Park across the world.
Though the factories were to be operational by early 2021, the COVID19 pandemic delayed the completion of the works, said Mr. Sung, adding that the company would run its operations from Warangal, making it their base for operations in India.
Mr. Ki-Hak Sung appreciated KTR for providing complete assistance from the day of the announcement of the company at Warangal’s Kakatiya Mega Textile Park. During the video conference, KTR stated that the Youngone Corporation operating from Warangal should be seen as a milestone in the Indian Textile industry. He also added that more Korean companies were looking forward to investing in KMTP after Youngone Corp.
Mr. Dayakar Rao appealed to KTR to provide skill development programmes for youth of Warangal which would make them industry-ready and secure jobs at the factories.
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