Giordano Korea CEO sees ‘familiar signs of promise’ as he plans a factory in economic zone
In the 1980s, South Korea embarked on an economic transformation that would turn it into a global manufacturing powerhouse driven by export-led industrialisation, strategic investments, and an increasingly skilled labour force.
Around four decades later, Bangladesh, with its competitive workforce and growing industrial ecosystem, seems to be treading a similar path.
For all latest news, follow The Daily Star’s Google News channel. One of the keen observers of this evolution is Junseok Han, chairman and CEO of Giordano Korea, a retail giant that has become a household name across Asia.
Visiting Bangladesh for the first time to attend the Bangladesh Investment Summit 2025, Han was struck by what he called “familiar signs of promise”.
Speaking to The Daily Star on the sidelines of the recently concluded summit, Han drew parallels between Bangladesh’s current economic climate and Korea’s growth phase decades ago.
“This country reminds me of where Korea was 30 to 40 years ago,” Han said.
“There’s tremendous opportunity here, especially in manufacturing and exports,” he added.
Han’s remarks come at a time when Korean interest in Bangladesh is steadily growing, and his visit signals a deeper intent to expand business operations in the country.
With plans to expand sourcing and potentially set up a manufacturing base, Giordano Korea could become the next big foreign player betting on Bangladesh’s economic ascent.
Under Han’s leadership, Giordano Korea saw its sales soar from two billion won (South Korea’s currency) in 1994 to a 100-fold increase within the next six years.
By 2003, it became the most popular women’s casual clothing brand in Korea.
Now, Han is setting his sights on Bangladesh, seeing it as the next chapter in his global journey.
“This is my first visit to Bangladesh, and I must say I’m deeply impressed,” Han began, fresh from a series of meetings with government officials and business leaders.
“I met capable individuals, including ministers, chairmen and young professionals. They’re highly attuned to global business trends. The country’s leadership is strong and forward-thinking. I believe the future is bright for Bangladesh under their guidance.”
Han’s visit was part of a broader strategy to explore sourcing and manufacturing opportunities in emerging markets. With existing procurement ties in Vietnam, Myanmar, and Indonesia, Han believes Bangladesh is now firmly in that league, if not ahead. Asked what makes Bangladesh attractive to foreign investors, Han pointed first to its people.
“The individuals I’ve met — especially younger professionals and factory workers — are skilled and well-educated. That’s a major asset,” he said.
He likened Bangladesh’s current state to South Korea in the 1970s and 80s — a time when the Korean economy transitioned from agrarian roots into an industrial powerhouse.
“I see Bangladesh at a similar juncture now. Labour costs are still competitive, and that creates a fertile ground for manufacturing-led growth.”
Han said Bangladesh has strong prospects in its labour-intensive sectors, such as garment production, electronics assembly, and light automotive components.
Despite his optimism, Han didn’t shy away from pointing out the challenges — particularly in logistics.
“Transportation is not convenient yet. Lead times are long, and this makes it hard to manage delivery schedules. Port access and shipping infrastructure need immediate attention.”
“Focus on infrastructure. Streamline export processes and reduce lead times. Doing that alone would make a massive difference.”
Han confirmed that Giordano Korea is not just here to observe but actively plans to establish a factory in one of Bangladesh’s economic zones to ramp up production for exports to Korea and beyond.
“We currently source about $5-10 million worth of products annually from Bangladesh,” Han said. “We aim to triple that amount within the next five years.”
A recent visit to Youngone Corporation in Chattogram, one of Bangladesh’s leading exporters, solidified his resolve.
“Their production capacity is impressive. It convinced us to expand our procurement footprint here,” he added.
Reflecting on the investment summit, Han was enthusiastic.
“I’ve had meaningful discussions with many influential people here,” he said. “Once I return to Seoul, I will initiate steps to strengthen our sourcing and investment strategies, with Bangladesh at the centre.”
Han sees opportunities beyond just Giordano.
“Korean companies are definitely interested in Bangladesh. Hyundai, KIA, Samsung, and LG are already here, and more are exploring entry. I believe Bangladesh offers a favourable environment for Korean investors looking for long-term growth.”
Han’s optimism is rooted not only in data and forecasts but in a deeper vision of shared progress.
“There’s so much potential here,” he said. “If Bangladesh can overcome its infrastructure hurdles, I believe it will not just catch up, it will lead.”
He also said that representatives and inventors of 27 companies from South Korea were interested in growing business with Bangladesh.
The CEO said that Youngone Corporation Chairman Kihak Sung is a pioneer in Bangladesh’s readymade garments and textile sectors and is ideal for Korean investors.