Korea’s Kyungshin to open a factory in Smederevska Palanka

Representatives of the Korean automotive company Kyungshin, which operates under the Kyungshin Cables Group, has visited Smederevska Palanka.

The Korean company plans to build an electronic component factory. The investment is worth st EUR 24 million and the factory will employ 1,000 workers, the Municipality of Smederevska Palanka said on its official website.

The working meeting was held in the premises of the municipality of Smederevska Palanka with the representatives of Kyungshin, the Development Agency of Serbia and the Korea Trade-Investment Promotion Agency, as well as the presidents of the municipalities of Smederevska Palanka and Velika Plana, Nikola Vucen and Igor Matkovic respectively, in attendance. After the working meeting, the investors visited the Industrial Zone Guberas.

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Thanks to the Development Agency of Serbia, the representatives of the Korean company visited several locations in Serbia and this was their second time in Smederevska Palanka.

The Korea Trade-Investment Promotion Agency is the trade department of the Embassy of South Korea, which works with all investors coming from Korea and all companies looking to enter the Serbian market. Representatives of Kyungshin want to invest in Serbia.

“In addition to (this investment) being very important for Smederevska Palanka and Velika Plana, it will be significant for Serbia too, as it is a good reference to other Korean investors who are considering investing in Serbia. Korean investments have contributed a lot to the development of central Europe and countries like Slovakia, Poland, the Czech Republic and Hungary. In Serbia, the company would produce battery components for electric vehicles. This is a very important investment, as the future lies is in electric cars,” said the adviser for economic affairs and investments of the Korea Trade-Investment Promotion Agency, Mihailo Pavlovic.

The deputy director-general of Kyungshin, Won Ju Hye, pointed out that her impressions of Smederevska Palanka were very positive and that she hoped for good future cooperation.

(eKapija, 21.11.2019)




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