/ Lifetime Achievement Award: Kihak Sung, chairman of Youngone Corporation

Kihak Sung, chairman of Youngone Corporation, is a pioneer in Bangladesh’s readymade garments and textile sectors, playing a crucial role in the country’s rise as a major global exporter.
Born in 1947 in Seoul, Korea, Sung pursued a degree in international economics from Seoul National University, after which he engaged in international trade through Seoul Trading. This ignited his entrepreneurial ambitions, leading him to establish Youngone Corporation in 1974.
In 1980, Sung made a groundbreaking move by setting up Bangladesh’s first foreign-owned apparel manufacturing plant in Chattogram. This was the beginning of Bangladesh’s transformation into a hub for garment production.
Youngone’s factories, located in Dhaka and Chattogram’s export processing zones, produce high-quality jackets, trousers, sports shoes and leather goods for international markets.
At present, the company employs about 70,000 people across Bangladesh, making it one of the country’s largest employers.
One of Sung’s most significant contributions to Bangladesh is the development of the Korean Export Processing Zone (KEPZ) in Chattogram.
KEPZ, which Sung acquired in 1999, stands as a prime example of Sung’s commitment to sustainable industrial growth.
The zone has planted 2.7 million trees, created 33 water bodies to conserve 500 million gallons of rainwater and established 43 state-of-the-art factories, all part of the “Blue & Green” initiative.
Additionally, KEPZ is working on a 40 MW rooftop solar power project, making it one of the largest in the global textile industry.
Currently, the factories in KEPZ collectively export goods worth $400 million annually.
Beyond his work in Bangladesh, Sung has been deeply involved in global and Korean textile leadership.
He has held various prestigious roles, including chairman of the Korea Federation of Textile Industries and president of the International Textile Manufacturers Federation.