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South Korea's textile major, Youngone Chairman and Chief Executive Officer Ki-Hak Sung, said that five of their factories would be up and running at the Kakatiya Mega Textile Park (Warangal) in the next six months. “Another three units will come up in the second phase,” he said.
In a video conference with Telangana Ministers K T Rama Rao and Errabelli Dayakar Rao, he said that the factories were to be ready in early 2021 but were delayed due to the Covid-19 pandemic.
About 12,000 people would be employed once all the all units begin production.
He told the Ministers that ‘Made in Telangana’ textiles would hit the global markets soon. “We will run our India operations from Warangal,” he said.
“Youngone Corporation’s venture at Warangal should be seen as a milestone in the Indian textile industry. More Korean companies are looking forward to investing in the park after Youngone committed its investments,” K T Rama Rao said.
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