South Korean automotive components manufacturer Kyungshin Cable opened a EUR 20 million factory in Serbia’s Smederevska Palanka, according to the Serbian President’s Office.
The factory is located in the Guberas industrial park near Smederevska Palanka. For now it has 249 employees, but Kyungshin Cable intends to increase their number to 700 by 2022.
Kyungshin Cable started the construction of the factory in May 2020 and initially planned to start production in August 2021.
