A Korean-Myanmar Industrial Complex is set to be established on 556 acres of land in Hlegu Township in Yangon Region. Construction of the project is expected to begin in October this year. It will be the first South Korea-funded industrial complex in Myanmar.

The industrial park will be made up of three scale (large, medium and small) industrial plots where factories and warehouses for garment products, food manufacturing, jewelry processing, vehicle spare parts factory, and electronic parts will be constructed. Besides, it will include residential, commercial, vocational training school, power stations, drainage systems and wastewater treatment plants.

The complex is expected to create 50,000 to 100,000 job opportunities for local people and generate USD 10 million in taxes annually.

South Korea is a crucial investment and trading partner and the sixth largest foreign investor in the country with over 200 South Korean companies currently operating. Bilateral trade reached nearly USD 800 million in 2018-2019 FY.