Updated at 2023-05-23
Youngdo Velvet Company rose to prominence in the 1960s when South Korea implemented its export expansion policy. Today, it is one of the world's leading velvet manufacturers. It prides itself on retaining 100% of its production in Korea and being the inventor of the water-washing technique. Youngdo velvet is renowned for its smooth and delicate texture and durability against wear and sunlight exposure.
Agreement date: Sept. 7, 2016
Area: 615 square kilometers
Main industries/features: the main industries are cutting-edge electronics and related machinery parts; semiconductors; and information technology. Gumi is a city where traditional culture and cutting-edge industries meet (it has a long history and tradition, as well as the country’s largest industrial park whose tenants include Samsung, LG, and other international companies).