Construction starts at Kyungshin new factory in Serbia
The South Korean automotive company has initiated the construction of its new facility in the municipality of Smederevska Palanka in Serbia – once completed 700 new jobs will be created.
The new facility is the result of a EUR 20 million investment, and is planned to create 700 new jobs. At the new plant in Smederevska Palanka, Kyungshin Cable will produce components for electric car batteries, as well as the parts for traditional cars, according to a report from the Development Agency of Serbia. Kyungshin Cable operates within the Kyungshin Group and manufactures electronic components for the automotive industry, mainly for companies such as Hyundai, Kia, Volkswagen, Ford, Volvo, and BMW.