4 July 2023
Busan Economic Promotion Agency (BEPA) has invested in a footwear making facility in Ethiopia, with $10 million provided by South Korea Official Development Assistance fund, according to local press, writes Footwearbiz.
The investment will build factories and train workers and officials to “enhance the competitiveness of leather and leather products industry”.
Dessie Dalkie, Ethiopian ambassador to South Korea, said Ethiopia’s young work force and access to raw materials give it a competitive advantage, “making the country an attractive destination for foreign investment”.
The Ethiopian Embassy in Korea and the BEPA Footwear Industrial Promotion Center signed a memorandum of understanding to strengthen cooperation between the countries.