Youngone Chairman honoured with honorary citizenship at Bangladesh Investment Summit

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, was honoured with honorary citizenship on Wednesday for his outstanding contributions to the industry and Bangladesh economy.

Chief Adviser Prof Muhammad Yunus handed over the award to Sung at the formal inaugural ceremony of the Bangladesh Investment Summit-2025 at a city hotel.

Sung was one of five individuals and organisations honoured for their significant contributions to Bangladesh. In addition to receiving the award, he was granted honorary citizenship.

"I am truly honoured to receive the honorary citizenship,' Sung told the Summit."

Fabric Lagbe Ltd (innovation category), Walton, bkash (foreign investment), and Square Pharmaceutical (local company) were honoured with Excellence in Investment Award 2025. The Chief Adviser handed over the awards.

Baroness Rosie Winterton, UK's Trade Envoy to Bangladesh, Óscar García Maceiras, CEO of Inditex, Apex Footwear Limited Managing Director Syed Nasim Manzur spoke as the government wanted to know foreign and local investors' views on the investment front.

Advisers of the interim government, including Finance Adviser Dr Salahuddin Ahmed, Foreign Affairs Adviser Md Touhid Hossain, Commerce Adviser Sk Bashir Uddin, Law Adviser Dr Asif Nazrul and Executive Chairman of Bangladesh Investment Development Authority (BIDA), among others, joined the inaugural event.

SDGs Affairs Principal Coordinator Lamiya Morshed and Chief Adviser's Press Secretary Shafiqul Alam also joined the event where Special Envoy Lutfey Siddiqi welcomed all.

Kihak Sung served as President of the International Textile Manufacturers Federation (ITMF) for the 2018-20 term.

His meteoric rise in the textile arena is associated with the success of Youngone Corporation, over the years, as a pioneering investor in RMG and textile sector FDI which led investments both in Chattogram and Dhaka EPZs and lately in Korean EPZ.

Youngone was the first investor in the textile and apparel export sector in May 1980 and has been a pioneer in female employment in the industry.

Almost all other subsequent investors from Korea followed in Youngone's footstep to invest in Bangladesh.

Its production of world famous brands has greatly enhanced the image of Bangladesh in the garment and textile sector, the press release said.

Because of his invaluable contribution to the development of apparel and textile industry and the national economy of Korea, Kihak Sung was conferred upon the highest class of the "Order of Industrial Merit Gold Tower" by the President of Korea in 2008.

This was followed later by his election to the top post as Chairman of the Korean Federation of Textile Industries (KOFOTI), a post which he still holds.

His dynamic leadership and steadfast policies led to the emergence of Youngone Corporation as one of the most reputable and recognised multinational companies which has successfully spread its wings across the globe in Korea, USA, Switzerland, Vietnam, China, India, Uzbekistan, San Salvador and Ethiopia.

Audience showed honour to the new citizen of Bangladesh.