Bravo Korea to set up USD 200 Mn wire Harness Company
Aug 11, 2023
M. Jjin You Ho Chairman of Bravo Korea Co. Ltd, Business Adviser Chung Ha Young, Korea Sri Lanka Business Coordinator Kim Hyeman, and Country Director Ajith Jayawardena, Country Coordinator, Lalith Bopitiya with State Minister of Investment Promotion Dilum Amunugama
With a vision to expand operations and foster international partnerships, Bravo Korea Co. Ltd in the Republic of Korea is looking at establishing a state-of-the-art wire harness manufacturing company in Sri Lanka.
This venture would involve a substantial investment of approximately $200 million, made in collaboration with the esteemed Kyungshin Cables Co. Ltd. Kyungshin Cables Co. Ltd. which holds a distinguished reputation for producing wire cables primarily for the automobile sector.
“This strategic alliance would not only bolster the industrial landscape of both nations but also pave the way for socio-economic advancement,” an official from the company said. “One of the primary benefits of this initiative would be the creation of an estimated 1,000 job opportunities locally, directly contributing to the country’s employment growth.”
Additionally, the potential for exports of locally manufactured products to renowned companies like Hyundai, and KIA in Korea promises to solidify economic ties and further stimulate trade between the countries, strengthening the diplomatic relationship.
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