InnoBiz Association Transfers Textile Industry Technology Innovation Know-how to Bangladesh

The President of the Bangladesh Garment Manufacturers and Exporters Association and the delegation are visiting the innovative business BOKWANG INT and taking a commemorative photo.

[Asia Economy Reporter Donghyun Choi] The Inno-Biz Association (Korea Technology Innovation Association for SMEs) announced on the 26th that it visited Bokwang INT, a textile industry technology innovation company, along with 23 members of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) chairman and delegation.

This visit was conducted as part of an advisory program provided by the International Finance Corporation (IFC) of the World Bank Group to the Bangladesh Garment Manufacturers and Exporters Association. The purpose is to learn advanced Korean technology and expand networking for the advancement of Bangladesh's textile industry.

The World Bank Group consists of the International Finance Corporation (IFC), the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). The IFC is responsible for private sector investment, loans, and advisory services.

Established in 2003, Bokwang INT is a company that manufactures fashion fabrics, medical clothing and linens, and special military uniforms. Since receiving its first Inno-Biz certification in July 2009, it has developed into a leading Inno-Biz company driving innovation in the textile industry.

Based on over 30 years of accumulated technology and know-how, the company has obtained ISO9001/14001, Single PPM (Parts Per Million), and GMP (Good Manufacturing Practice) certifications, and has established an integrated process from yarn procurement, weaving, processing, printing, to sewing, leading a high value-added textile industry.

On the day of the site visit, the delegation included BGMEA Chairman Hassan, as well as officials from the Bangladesh Central Bank, Ministry of Commerce, and Ministry of Finance. Jeong Hyokyung, chairman of the Daegu-Gyeongbuk branch of the Inno-Biz Association, also attended to discuss various cooperation directions between Inno-Biz companies and Bangladeshi companies.

Kim Sejong, head of the Inno-Biz Policy Research Institute at the Inno-Biz Association, stated, “The association has been discovering excellent companies leading technological innovation and supporting their global expansion based on technology. Taking this cooperation with the delegation as an opportunity, we will explore various cooperation plans, including the entry of Inno-Biz companies into Bangladesh.”

Meanwhile, the Bangladesh delegation also visited the Advanced Medical Convergence Textile Center at Gyeongbuk Technopark in Gyeongsan, Gyeongbuk, on the same day, touring the facilities and discussing cooperation plans related to the advancement of the medical textile industry.

This content was produced with the assistance of AI translation services.