South Korea intends to invest in the Chinese textile and apparel industry is transferred to Myanmar

Korea Textile Industry Association vice president Myeng-Keun Ha 9 Yangon on 10 May to the newspaper, said the withdrawal of South Korean businessmen are investing in mainland China, instead invest in ASEAN countries. Myanmar has abundant labor resources, investment in textile and garment industry has great potential. He also said that Western sanctions against Myanmar restricting obstacles to investment.

South Korean textile and garment industry in Myanmar, has invested $ 50 million, if Western sanctions lifted, then investment will increase several times. South Korea is the implementation of a market economy in Myanmar since 1989 and the first investment textile and garment industry in the country. 2003 Western sanctions on Burma, a number of Korean companies pulled out of Burma.