Vucic will be laying the foundation stone for the Kyungshin Cable factory tomorrow

Vucic will be laying the foundation stone for the Kyungshin Cable factory tomorrow

The ceremony in the industrial zone Guberas will start at 11 am, Media Office of the President of the Republic has announced.

In addition to President Aleksandar Vucic, the symbolic laying of the cornerstone of the production plant will be attended by the General Manager of Kyungshin Cable Europe Jae-Keun Seo, H. E. Ambassador of the Republic of Korea to Serbia Hyong-chan Choe and President of the Municipality of Smederevska Palanka Nikola Vucen.

Kyungshin Cable Europe, Smederevska Palanka will produce parts for traditional cars, and components for high-tech electric car batteries, it was announced.

The investment, worth more than 20 million euros, involves building a factory that will gradually employ between 700 and 1.000 workers.

Kyungshin Cable International Corporation in South Korea has been developing since 1974, and a branch in Serbia was established in early March this year. They have factories in China, Mexico, USA and Poland.