South Korean manufacturer completes construction of Serbian factory
Kyungshin Cable began the construction of its new facility in Smederevska Palanka, Serbia at the end of May, 2020. Now, just a few months later the building stands complete.
The company is currently keeping busy installing the machines at the factory, which it plans to officially open in March next year, according to a report from SeeNews. Once fully staffed, the factory will have 1’000 employees, the report says citing town mayor Nikola Vucen. That would mean an additional 300 new jobs compared to the 700 new jobs that was communicated in connection with the groundbreaking ceremony. The plant represents an investment of more than EUR 20 million and will produce components for electric car batteries once production starts.