QCOSTARICA – With an investment of US$35 million dollars, the Korean company, Sae-A Spinning, inaugurated its plant in Costa Rica.
Located in El Tejar Del Guarco De Cartago, east of San Jose, the textile plant that will manufacture cotton yarn, employs 270 people directly.
The American continent is the main destination for the Sae-A exports.
The Costa Rican company is a division of Sae-A Trading, a global clothing manufacturer founded in 1986 and headquartered in Seoul, South Korea, with over 40,000 employees in 41 factories in 10 countries worldwide including: China, U.S., Guatemala, Nicaragua, Indonesia, Vietnam, Cambodia, and Haiti. And now Costa Rica.
A bit of good news for Costa Rica, however, I see that the plant is largely “robotic” in nature, so I don’t believe that it will provide much in the way of employment opportunities. Possibly, Costa Rica should specialize in providing opportunities for countries to establish factories to produce goods for the North American market, utilizing the Costa Rica Free Trade Agreement (TLC) with the U.S. to allow the “back-dooring” of goods that would otherwise be denied entry to the North American market as a result of quotas imposed on the parent country.