The South Korean company Kyungshin Cables will start building a factory for the production of electronic components for the automotive industry in Smederevska Palanka in the next few days. Kiungshin Cables belongs to the global Kiungshin Group, which produces auto parts for both Hyundai and Kia Motors. Kyungshin signed a Memorandum of Understanding with the municipality of Smederevska Palanka in March, which confirmed the construction of the factory after several months of negotiations. The company will be investing €24m in the plant, which is to be built in an industrial zone in the town.
