The factory of South Korean company Kyungshin Cable in Smederevska Palanka has been completed. The machinery is already being installed in the facility, which will employ up to a thousand workers from March, and job interviews are already in progress.
In only four and a half months, on the parcel where a regional landfill for Velika Plana, Smederevska Palanka and Raca was planned, the factory, which takes up 20,000 m2, was built entirely.
The president of the municipality, Nikola Vucen, says that it will be one of the most modern factories in the country, which will help “the city that used to be synonymous with the industry” to be once again known as an industrial center in Serbia, but also in the region.
Kyungshin Cable is a world company recognized in the automotive industry, and they cooperate with many companies, some of the most prominent of which are Hyundai, LG and Tesla Motors.
They mostly produce components for electric cars, and Vucen points out that this is why they are the future of the automotive industry.
The investment is worth around EUR 40 million. A part of the subsidies was provided by the Republic of Serbia, and the local self-government participated in the construction of the necessary infrastructure.
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