Hyundai looking into investment opportunities in Serbia

BELGRADE - Serbian Prime Minister Ivica Dacic will meet with representatives of South Korean car maker Hyundai in Belgrade, it was said in a release.

Tanjug
Tanjug

The world's fifth largest automobile manufacturer is apparently coming to discuss possibilities for cooperation with Serbia, and First Deputy Prime Minister Aleksandar Vucic has hinted that Hyundai might be interested in opening a car parts plant in Serbia.

Back in February, Vucic said both Hyundai and another South Korean car maker, Kia Motors, could come to Serbia if the country got a date for EU accession talks.

Hyundai set up a dealership and service and repair network in Serbia in 2002. Since then its sales have gone up more than tenfold and it is currently the third most sold car brand in the country.

Cooperation between Serbia and Hyundai already exists, as South Korea's Yura Coorporation, which has four plants in Serbia, produces electrical installations for KIA and Hyundai.

Krusevac-based tire maker Trajal is also a partner of Hyudai - it has a contract with Belarusian company Belshina for the supply of tires to a Hyundai factory in Russia.