Hyundai cars to be assembled in Bangladesh

Hyundai cars will be produced in Bangladesh by the end of this year, according to South Korea's ambassador to Bangladesh, Lee Jang-keun.

He said that a local business, Fair Technology, is now setting up an assembly factory for Hyundai Motors in the Kaliakoir Hi-Tech Park.

Samsung Electronics is assembling and manufacturing the majority of its devices locally, including its refrigerators, air conditioners, washing machines, televisions, and mobile phones, according to Ambassador Lee, who was speaking at a reception on Sunday evening to commemorate South Korea's National Foundation Day.

The South Korean representative claimed that the upcoming golden anniversary of relations between Bangladesh and South Korea will mark an important turning point in their "friendship and partnership."

"We will renew our commitment to each other and take a courageous step forward together for a closer, deeper, stronger and brighter future," he added. "We will cherish the intimate ties we have carefully developed for the past five decades."

According to the ambassador, South Korea is now the fifth-largest foreign direct investor (FDI) in Bangladesh, and more than 70% of its investment is in the RMG sector.