[Edaily Reporter KYUNG GYEYOUNG ] Global original equipment manufacturer (OEM) Youngone Corporation is seeking mutual growth with the domestic textile industry by introducing domestically produced textile equipment.

Youngone Corporation(111770)On the 6th, at the Youngone Corporation headquarters in Myeongdong, Jung-gu, Seoul, the company signed a Memorandum of Understanding (MOU) with Sam S Machinery, a domestic manufacturer specializing in circular knitting machines, and agreed to introduce 180 domestically produced circular knitting machines to its global production bases in Uzbekistan, India, and Kenya over the next two years. The total project value amounts to 10 billion won.

Sam S Machinery is a leading domestic textile machinery manufacturer. The circular knitting machines that Youngone Corporation is importing are machines that continuously knit yarn on cylindrical equipment to produce knitted fabrics used in T-shirts, sportswear, and other items.

This agreement is expected to present a model of mutual growth between the domestic textile machinery industry and the apparel manufacturing industry. It is also projected to enhance the global competitiveness of domestically produced textile equipment and contribute to the expansion of the Korean textile industry’s overseas presence. For Youngone Corporation, this initiative will establish a stable equipment supply system within its global production network while further strengthening production efficiency and quality competitiveness.

Park Jae-yong, President and Head of the Textile Business Division at Youngone Corporation, stated, “This agreement goes beyond a simple equipment purchase; it is an important starting point for fostering mutual growth with the domestic textile machinery industry and jointly enhancing the competitiveness of the global supply chain.” He added, “We will continue to expand our cooperation with outstanding domestic companies to build a stable supply chain and strive to contribute to the sustainable growth and enhanced global competitiveness of the domestic textile industry.”

Cho Sung-hwan, CEO of Sam S Machinery, emphasized, “Signing this long-term supply contract with Youngone Corporation is a meaningful achievement that recognizes our technological capabilities and quality competitiveness.” He added, “We will do our utmost to stably supply the optimal knitting equipment to Youngone Corporation’s global production bases, and we will use this collaboration as a springboard to leap forward as South Korea’s leading textile machinery company, recognized in the global market.”