Kyungshin Cables to make a €20 million investment in Serbia

The local government of Smederevska Palanka and Kyungshin Cables have signed a Memorandum of understanding (MoU) for this project, in which the company says it will employ at least 700 people within the project, according to an update from Development Agency of Serbia. The current plan for Kyungshin Cables is to start the construction of the factory in April and to complete it in 2021. Kyungshin Cable operates within the Kyungshin Group and manufactures electronic components for the automotive industry, mainly cable harnesses for manufacturers such as Hyundai, Kia, Volkswagen, Ford, Volvo, and BMW.