The Construction work of Korean EPZ hi-tech Park begins in Chattogram


The construction of the Korean EPZ Hi-Tech Park in Anwara Upazila of Chattogram began on 21st April, with the primary investment of $200m by Youngone corporation. In the coronavirus pandemic situation,  the innovative ceremony was virtually attended by Zunaid Ahmed Palak, State Minister for ICT, and LEE Jang-Keun, ambassador of the Republic of Korea to Bangladesh, with the physical presence of Kihak Sung, chairman & CEO of Youngone Corp and the KEPZ, according to a press release. The park is located on an area of about 100 acres in the Korean Export Processing Zone (KEPZ), which is also the country’s first private EPZ.


The journey started in February when a tripartite agreement was signed between Bangladesh Hi-Tech park authority, the KEPZ and startup Bangladesh to develop a hi-Tech industry and innovative ecosystem.

The infrastructure of the park is really interesting. The park will have a 41 storied IT building, universities and schools, and a community complex with service apartments. The park will also arrange startup boot camps and other programs to upskill the startups in Bangladesh. Apart from that, a statement of the KEPZ Bangladesh said it would create a job opportunity for about 20,000 people when fully implemented.

Youngone The corporation will develop all kinds of software, industrial digitalization, data entry and outsourcing with an estimated investment worth $200 million successively. Kihak Sung, chairman & CEO of Youngone Corp and the KEPZ Kihak Sung said Youngone is very happy to make a contribution to ICT industries and startup ventures after investing hugely in the man-made fiber project in the garment sector.

State Minister Palak said This Hi-Tech park would play an important role in the development and growth of the IT sector as well the modernization of the city and overall the growth of the economy of Bangladesh.

Jimmy Kim, co-founder, and partner at SparkLabs Global Ventures, a venture capital fund based in California hoped that it would promote the startup ecosystem by connecting the foreign investors with local startups.

Tina Jabeen, managing director of Startup Bangladesh, and Md Shahjahan managing The director of the KEPZ, also spoke at the ceremony.

Source : The Daily Star

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