Leading garment maker invests in Guatemala

South Korea's Sae-A Trading, one of the world's leading garment manufacturers, with operations in 10 countries, says it is going to build a high-tech plant in Guatemala with a $14 million investment, according to the Economy ministry.

Sae-A already has two garment factories in Guatemala. The new factory aims to make use of Guatemala's geographical location as a bridge between the United States and South America.

Sources in the Guatemalan textile association, Vestex, says that the Koreans are attracted by Cafta tariffs that are much lower than those of Asia.