Kihak Sung, chairman of Youngone Corporation and a pioneer in Bangladesh’s readymade garments (RMG) and textile sectors, who first came to the country in the mid-1990s, has been honoured with a lifetime honorary award for his outstanding contributions to the industry.
Chief Adviser Professor Muhammad Yunus handed over the award to Sung at the inaugural ceremony of the Bangladesh Investment Summit 2025 at a city hotel on Wednesday.
Sung was one of five individuals and organisations recognised for their significant contributions to Bangladesh. In addition to receiving the award, he was also granted honorary citizenship.
“I am truly honoured to receive the honorary citizenship," Sung told the summit.
Fabric Lagbe Ltd (in the innovation category); Walton, and bKash (in the foreign investment category); Square Pharmaceuticals (local company), were also honoured with the Excellence in Investment Award 2025. The Chief Adviser presented the awards.
Baroness Rosie Winterton, the UK’s Trade Envoy to Bangladesh; Óscar García Maceiras, CEO of Inditex; and Apex Footwear Limited Managing Director Syed Nasim Manzur also spoke at the event, as the government seeks insights from both foreign and local investors on the investment landscape.
Advisers of the interim government—including Finance Adviser Dr Salehuddin Ahmed, Foreign Affairs Adviser Md Touhid Hossain, Commerce Adviser Sk Bashir Uddin, Law Adviser Dr Asif Nazrul, and Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun were present at the ceremony.
Principal Coordinator for SDG Affairs Lamiya Morshed and Chief Adviser’s Press Secretary Shafiqul Alam also attended, while Special Envoy Lutfey Siddiqi welcomed the guests.
Kihak Sung served as the president of the International Textile Manufacturers Federation (ITMF) for the 2018–2020 term.
His meteoric rise in the textile arena is closely tied to the success of Youngone Corporation – a pioneering foreign investor in Bangladesh’s RMG and textile sectors. The company led investments in both Chattogram and Dhaka EPZs, and more recently in the Korean EPZ.
Youngone was the first investor in Bangladesh’s textile and apparel export sector in May 1980 and has also been a pioneer in promoting female employment in the industry.
Almost all subsequent Korean investors followed in Youngone’s footsteps to invest in Bangladesh.
Its production of globally renowned brands has significantly enhanced Bangladesh’s image in the international garment and textile sectors, according to a press release.
In recognition of his invaluable contributions to Korea’s apparel and textile industries and the national economy, Kihak Sung was awarded the highest class of the Order of Industrial Merit Gold Tower by the President of Korea in 2008.
He was later elected chairman of the Korean Federation of Textile Industries (KOFOTI), a position he continues to hold.
Under his dynamic leadership and steadfast policies, Youngone Corporation has emerged as one of the most reputable and globally recognised multinational companies, with operations in Korea, the United States, Switzerland, Vietnam, China, India, Uzbekistan, San Salvador, and Ethiopia.
Courtesy: UNB
Bd-Pratidin English / FNC
