Kyungshin Cable plans €20m in Serbia

Kyungshin Cable laid a foundation stone for its new plant in Smederevska Palanka this week, the beginning of a six month process that will result in the creation of 700 new jobs. The South Korean firm's factory will cover 12,000 sqm, with construction expected to cost in the neighborhood of €20m. Kyungshin Cable produces manufactures parts for electric vehicles. The ceremony was attended by the President of Serbia, Aleksandar Vučić, who said that in the first quarter of the year, the value of foreign investments in Serbia was € 837 million.