Yura to invest in Serbia

A MoU (Memorandum of Understanding) between the RS Ministry of Economy and Regional Development, the City of Niš and Yura has already been signed. The City of Niš will support this project by providing land free of charge, local media reports. Additional to that, the Ministry of Economy & Regional Development and SIEPA will support each job—created within the next 3 years—with EUR 5'000. Yura—which is said to invest around EUR 10 million—is to start the production facility (Greenfield investment) next year. The facility is estimated to provide 1'500 new jobs to the area. The production is primarily intended for other South-Korean companies in Eastern-Europe, namely Hyundai and KIA.