• Costa Rica Coffee Guide

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.

You may be interested

Costa Rica unemployment rate falls slightly to 17.3%
Costa Rica
2845 views
Costa Rica
2845 views

Costa Rica unemployment rate falls slightly to 17.3%

Alejandro Zúñiga - June 14, 2021

Unemployment in Costa Rica was 17.3% in the moving quarter from February to April 2021, according to the National Institute…

Costa Rica soccer celebrates 100 years with a win and a new kit
La Sele
1 views
La Sele
1 views

Costa Rica soccer celebrates 100 years with a win and a new kit

Alejandro Zúñiga - June 14, 2021

The Costa Rican Football Federation (Fedefutbol) on Sunday celebrated its centennial with a victory and a new kit. The women's…

Arts and Culture
2457 views

Costa Rica’s wildlife, jungles and beaches in high-resolution video

The Tico Times - June 13, 2021

It's amazing what thousands of dollars worth of video equipment can do. Captured using a Red Epic cinema camera, a series…

The Tico Times | Top Costa Rica News, Travel, Culture and Sports