It is reported that Mr. Youngjoo Choi, the President of PANKO Corporation from South Korea met with Aye Win, the Chairman of the Republic of the Union of Chamber of Federation of Chambers of Commerce and Industry (UMFCCI) on 22nd September.
During the meeting, Mr. Youngjoo Choi said that they are going to expand its businesses including thread and yarn productions in Myanmar in addition to garment industry.
The Chairman of UMFCCI also made the commitment for further collaboration for economic development.
The Chairman of the UMFCCI added that the Government is also encouraging and supporting the garment and textile industry since they are labour intensive industries and which can pave the way for more job opportunities.
By working extensively on the thread and yarn and textile dyeing industry, it not only can generate mutual benefits but also can promote bilateral cooperation and the country's economic development.
The Korean PANKO Corporation has set up and run the garment factory since 2019 in Bago Region in Myanmar and they are creating many job opportunities from their garment factories.