Bangladesh, a huge market with a population of 170 million, is emerging as a promising investment destination for Korean companies.
Bangladesh has continued its economic growth of 6-7% every year for the past decade, but recorded the highest growth rate in the world at 8.4% in 2019 just before COVID-19 pandemic. The GDP of Bangladesh has also surpassed that of Vietnam.
Korea's exports to Bangladesh also increased by 62% year-on-year as of the end of November 2021, drawing keen attention as a post-China country after COVID-19 pandemic.
Recently, local assembly production in Bangladesh of Korean products such as home appliances, mobile phones, and automobiles has begun in earnest.
The rapid economic growth of Bangladesh over the past decade has greatly expanded the domestic market and flooded orders for infrastructure projects, accelerating the entry of Korean companies.
Labor costs in Bangladesh are one-fifth of China and one-half of India, and much lower than Vietnam. Bangladesh, where China's low-wage era is over and countries around the world are in fear of inflation, is emerging as a major target country for Korean companies.
Bangladesh, a huge market with a population of 170 million, is clearly a land of opportunity. Bangladesh is now awake from a long sleep and stretching. Based on Korean companies’ experience and high technology, they need to participate in 'global operation' in this trend.
List of Korean companies participated in the Bangladesh March 28 national holiday event and doing business in the country
Youngone Corporation, Daeduck Lab., CAC Trading, Dada Corporation, KIND, D.H. Euro Hi-Tech Co., Ltd, ShinWon Corporation, Changdae Apparel Co. Ltd., K-Water (Korea Water Resources Corporation), Samsung Climate Control Co., Ltd., LS Cable & System, POSCO Daewoo, Samwhan Corporation, Hyundai Group, GS Engineering and Construction, Korea Maritime Consultants Co. Ltd., Sarjin Tech. Co. Ltd., KT, SK Gas, Handock Cosmetics Co. Ltd., Hyundai Engineering,m Hyundai Rotem, SK C&C, and FELB Korea.