South Korean textile company opens new plant in Costa Rica

April 29, 2015

South Korean company SAE-A Spinning launched operations in Costa Rica on Thursday with the inauguration of its yarn spinning plant in the province of Cartago, with an initial investment of just over $55 million.

The new Costa Rica plant employs 270 workers and produces cotton yarn for export, mainly to other countries in North and South America.

President Luis Guillermo Solís attended the inauguration. He said the new operation strengthens efforts to generate economic prosperity and more jobs for Costa Rica.

“Today this modern facility launches operations hand in hand with hundreds of Costa Ricans whose talent and dedication will help this company grow,” he said.

The company’s Chairman Woong-Ki Kim said the plant would also create more opportunities for new and existing businesses here.

“Our commitment to the people of Costa Rica is unwavering and we only expect a steady growth in coming months and years,” he said at the opening ceremony.

SAE-A Spinning is a subsidiary of Seoul-based Sae-A Trading Co., a company that currently has more than 60,000 employees at 41 operations in 10 countries. Its total textile exports in 2014 exceeded $1.5 billion, while total sales of its other operations were over $2 billion.

The opening of the South Korean company boosts Costa Rica’s textile sector, which in past decades has been affected by the relocation and closure of several multinational companies.

That upward trend could continue as Canadian company Gildan Activewear announced plans last year to install a manufacturing plant in the province of Guanacaste.

Gildan’s choice of Costa Rica followed several months of negotiations between the company and the Costa Rican Investment Promotion Agency (CINDE).

Total investment and an exact date for the start of construction on the Gildan plant have not been made public, but CINDE reported in May that Gildan’s new Guanacaste facility would create some 1,000 new jobs for the province.

Facebook Comments

You may be interested

Alajuelense eliminated in the Costa Rican Clausura
Soccer
3 views
Soccer
3 views

Alajuelense eliminated in the Costa Rican Clausura

AFP and The Tico Times - April 21, 2019

Liga Deportiva Alajuelense tied 2-2 against the reigning champion, Club Sport Herediano, and was eliminated from the semifinals of the…

Costa Rica bets on ending fossil fuel use by 2050
Climate Change
28 views
Climate Change
28 views

Costa Rica bets on ending fossil fuel use by 2050

Marco Sibaja / AFP - April 21, 2019

Eric Orlich and his wife Gioconda Rojas own two electric vehicles, which they charge at home in the garage thanks…

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)
Pic of the Day
97 views
Pic of the Day
97 views

Pic of the Day: Costa Rica’s Isla Nublar (aka Cocos Island)

Alejandro Zúñiga - April 18, 2019

Isla Nublar, the setting for much of the "Jurassic Park" series, is unfortunately not a real Costa Rican island. Cocos…

Do NOT follow this link or you will be banned from the site!