Dongwoo BD Ltd, a South Korean company, is going to set up a shoe accessories manufacturing industry inside Bepza Economic Zone (EZ) with an investment of $8.62 million.

This fully foreign-owned company will annually produce 3.6 million metres of all kinds of PU (polyurethane) synthetic leather, according to a statement of Bangladesh Export Processing Zones Authority (Bepza).

The manufacturing industry will also create employment opportunities for 513 Bangladeshi nationals, it said.

In presence of Bepza Executive Chairman Major General Abul Kalam Mohammad Ziaur Rahman, Bepza's Member for Investment Promotion Ali Reza Mazid signed an agreement with Dongwoo BD Ltd's Chairman Kim Dong Kyu at Bepza Complex in Dhaka on August 10, according to the statement.