Minister KTR in a video conference with South Korea’s textile major Youngone Chairman and CEO Mr. Ki-Hak Sung
Youngone Factory to be operational within next six months at Kakatiya Mega Textile Park
In a video conference with Ministers Sri KTR and Sri Dayakar Rao Errabelli South Korea’s textile major Youngone Chairman and CEO Mr. 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 informed Minister 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 ready by early 2021, the COVID19 pandemic led to a delay in the completion of the works said, Mr. Sung. He also said that the company will run its operations from Warangal, making it their base for operations in India.
-Mr. Ki-Hak Sung appreciated Minister 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, Minister KTR stated that the Textile Major Youngone Corp operating from Warangal should be seen as a milestone in the Indian Textile industry. He also added that more Korean companies are looking forward to investing in KMTP after Youngone Corp.
-Minister KTR assured Mr. Sung of providing complete assistance in setting up of Youngone Corp factories in Telangana.
-Once up and functioning, these factories will be providing employment opportunities to about 12 thousand people in the region.
-Panchayat Raj and Rural Development Minister Errabelli Dayakar Rao appealed to Industries Minister KTR to provide skill development programs for the local youth of -Warangal which will make them industry-ready and secure jobs at the factories.
-Minister KTR stated that the officials are completely ready to provide skill development training through the district rural development corporation for the youth and women in the region for two to three months.
-Principal Secretary Jayesh Ranjan and TSIIC VCMD Narasimha Reddy were present.