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Korean apparel manufacturer Hansae to add facilities in Myanmar

Hansae, a South Korean apparel manufacturer, recently stated that it will build another factory in Myanmar as it moves to protect worldwide keenness in the face of a strong local money and a rise in raw material prices.

Hansae, which makes clothes for international brands such as Nike and Gap, stated that at present it is looking for a factory site in the Southeast Asian country, where it already functions one production plant.

Hansae is a Seoul-based company mainly engaged in manufacturing of garments like shirts, knits, women's suits and casual apparel. It has production units in Guatemala, Indonesia and Vietnam, from where it exports to overseas buyers, such as Abercrombie & Fitch, American Eagle, Gap, Hollister, Sears, Kohl's, Nike, Old Navy, and others. It was founded in 1982, it has 17 corporations in six countries Vietnam, Nicaragua, Guatemala, Indonesia, Myanmar and Haiti.

The latest investment decision comes amid the strengthening of the local currency, which could undermine price competitiveness of South Korean goods in the global market. The Korean won averaged 1,067.76 won against the U.S. dollar in April, up from an average 1,071.89 won in March.

 
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